AUD/USD: Dense Support Ahead After 0.90 Break
Strategy: Pending Short
AUDUSD broke down out of a rising channel set from late February and slipped below the psychologically significant 0.90 figure, with prices now stalling above horizontal support at 0.8855. A break below this juncture will leave the door open for a move to challenge the major downside boundary in the 0.8642-0.8746 region. Entering short does not look attractive at current levels and we will remain on the sidelines for now.
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