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Last week we posted an analysis on the weekly bearish candlestick pattern formed in AUDUSD. The long upper tail of the weekly candlestick combined with the rejection at a key Fibonacci retracement has provided a bearish signal. This week is very important on the medium-term trend for AUDUSD.
Green lines - expected path
AUDUSD has the potential to start a new downward move towards 0.70-0.66 as we explained in our last analysis. The bearish signal from last week's candlestick needs confirmation by a consecutive bearish week. So far price remains under pressure but it is still too early to call it a confirmed signal. We have four more trading sessions ahead. If AUDUSD remains under pressure and forms lower lows, we should expect price to test 0.70 over the coming weeks.
¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.
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