AUD/USD Classical 05.05
AUD/USD: The market has been struggling to hold onto gains towards 0.9400 and we continue to retain a bearish bias, with a lower top sought out below 0.9385 ahead of the next major downside extension. Tuesday’s break back below 0.9135 reaffirms bearish outlook and exposes the next drop towards 0.9000 over the coming sessions. We expect to see a sharp acceleration of declines on a break below 0.9000. In the interim, look for any intraday rallies to be well capped ahead of 0.9200.
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