FX:AUDUSD   Australian Dollar / U.S. Dollar
There is a short wedge forming for AUDUSD which I would believe is setting up for a downtrend. The price is currently around the 0.786 retracement and I would look the downtrend to go towards 0.7333 (fib 0.618), which is an area that has shown support and resistance previously. If this trend does breakout upwards, I would however look for it to go to 0.82, which is 1.272 retracment and a previous high.


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