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AUD/USD Price Analysis: Bulls step in front of a freight train
As per the prior analysis, AUD/USD bears are lurking at daily resistance, the price has been rejected there and subsequently dropped like a stone. ''We have seen a firmer test of the M-formation's resistance as follows:'' chart ''The price has even surpassed the 61.8% Fibonacci but has so far tested the 78.6% Fibonacci resistance and the confluence with the 27 May high liquidity candle, which too would be expected to act as resistance. Consequently, there are downside risks and the potential of a fresh daily bearish impulse to crack the current daily support structure.'' chart As illustrated here and forecasted ... (full story)