The AUD/USD has bounced in therecent sessions and tested a key shortterm resistance at 0.9171 yesterday(1st retracement of the downtrendsince October top and short termbearish channel). A failure to clear thisresistance and the break below theshort term support at 0.9055 wouldsignal a new bearish wave toward0.8848 before a long term support at0.8643/74 (retracement). A breakabove 0.9171 would invalidate thisscenario in the short term and wouldprolong the recovery toward 0.9283.Sell – Stoploss @ 0.9172 – Target @0.8848.
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