AUDUSD is facing the support of the price channel on 4-hour chart, a clear break below the channel support will confirm that the longer term uptrend from 0.9927 has completed at 1.0764 already, then the following downward move could bring price to 1.0250 area. However, rebound from the channel support is possible later today. Resistance is at 1.0555, a break above this level will suggest that a cycle bottom is being formed, then another rise towards 1.0900 could be seen.


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