Strategy: Pending Short
AUDUSD is mounting a shallow recovery after breaching rising trend line support set from early October having put in a bullish Harami candlestick pattern. Trend line support-turned-resistance liens up at 1.0369 and is reinforced by the top of a falling channel set from late February, now at 1.0416. We will wait for this pullback to run its course to look for selling opportunities.
Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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