AUDUSD stays below a downward trend line

By @ibtimes on

AUDUSD stays below a downward trend line on 4-hour chart, and remains in downtrend from 1.0342. As long as the trend line resistance holds, downtrend could be expected to continue after a minor consolidation and next target would be at 0.9600 area. However, a clear break above the trend line could indicate that the fall from 1.0342 has competed, then the following upward movement could bring price to 1.0400 zone.

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