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theforexarmy

Turn bearish with the break of our long term ascending support

Short
Australian Dollar / U.S. Dollar (FX:AUDUSD)  
theforexarmy  
FX:AUDUSD   Australian Dollar / U.S. Dollar
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Sell below 0.7700. Stop loss at 0.7790. Take profit at 0.7520.
Reason for the trading strategy:
We turn bearish below 0.7700 resistance (break of ascending support line, pullback resistance) for a push down to 0.7520 support (Fibonacci retracement, horizontal overlap support).
RSI (34) has started to break its support and sees bearish divergence versus price signalling a bearish reversal is fast approaching.
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