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theforexarmy

AUDUSD remain bearish looking to sell on strength

Short
Australian Dollar / U.S. Dollar (FX:AUDUSD)  
theforexarmy  
FX:AUDUSD   Australian Dollar / U.S. Dollar
AUDUSD audusdshort audusdidea audusddaily audusdnews audusdlong USD aud audusdanalysis audusd1hr audusdlongsetup audusdsell audusdsignal
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audusd audusdshort audusdidea audusddaily audusdnews audusdlong usd aud audusdanalysis audusd1hr audusdlongsetup audusdsell audusdsignal
Sell below 0.7605. Stop loss at 0.7650. Take profit at 0.7517.
Reason for the trading strategy (technically):
We remain bearish for a further drop, looking to sell on strength below 0.7605 resistance (Fibonacci retracement, horizontal pullback resistance) for a further drop to 0.7517 support (Fibonacci retracement, horizontal overlap support).
RSI (34) sees multiple descending resistance lines holding price down.

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