AUDUSD might be forming a short term cycle top at 0.7615 level on 4-hour chart. Pullback towards the lower border of the rising price channel is expected later today. As long as the channel support holds, the fall from 0.7615 is treated as consolidation of the uptrend from 0.6989. However, a clear break below the channel support will indicate that the rise from 0.6989 has completed at 0.7615 already, and then deeper decline could be seen to test 0.7335 key support.
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