AUDUSD is breaking down from a range that’s been intact since early March. It’s been an incredible 200-pip range to trade for those who took advantage of it. However, if today’s session closes below 0.6580, it will mark the lowest daily close for the Australian dollar since November 9th, 2022. It would also confirm a breakdown from the recent range. That said, shorting AUDUSD here is ill-advised, in my opinion. You never want to short a pair that’s already down 1% on the day after breaking a multi-month range. Furthermore, the Australian dollar is trading just above the key 0.6525 level. You can see this area’s ... (full story)