AUD/USD Classical Technical Report 10.11
AUD/USD: Any rallies are classified as corrective, with the market still locked within a well defined downtrend. As such, we would expect to see the current bounce well capped below 1.0000 on a daily close basis in favor of the next major downside extension back towards and eventually below 0.9385. Ultimately, only a daily close back above 1.0000 would delay outlook and give reason for pause.
--- Written by Joel Kruger, Technical Currency Strategist
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