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AUDUSD Daily Analysis – May 29, 2017

AUDUSD is now in downtrend from 0.7517. Further decline could be expected in a couple of days and the next target would be at around 0.7350. Resistance is at the bottom trend line of the price channel on the 4-hour chart now at around 0.7480, followed by 0.7517, only break above these levels could trigger another rise towards 0.7550.

AUDUSD 4-hour chart

Author ForexCycle.comPosted on May 29, 2017Categories Short Term Forex AnalysisTags AUDUSD, Price Channel, Trend Line

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