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AUD/USD: range-bound with slight bullish bias short-term

The aussie continues to consolidate in a sideways range, within which it has fallen to support from a key trend-line. The very short-term trend is on balance marginally more bullish.

The mini-up-trend could extend and, a very bullish sign would result from a move above the trend-line, as this would constitute the third trend-line break for the pair – and a sign that the trend may be reversing. A move above 0.7775 would probably result in a surge higher, initially to the monthly pivot at 0.7805 and then perhaps even higher.

If the pair breaks down through the current trend-line – a move which would be confirmed by a break below the 0.7678 lows – it would probably open up a stronger move down to 0.7644, perhaps even lower to the range lows.

AUDUSD25

The aussie continues to consolidate in a sideways range, within which it has fallen to support from a key trend-line. The very short-term trend is on balance marginally more bullish.

The mini-up-trend could extend and, a very bullish sign would result from a move above the trend-line, as this would constitute the third trend-line break for the pair – and a sign that the trend may be reversing. A move above 0.7775 would probably result in a surge higher, initially to the monthly pivot at 0.7805 and then perhaps even higher.

If the pair breaks down through the current trend-line – a move which would be confirmed by a break below the 0.7678 lows – it would probably open up a stronger move down to 0.7644, perhaps even lower to the range lows.

AUDUSD25



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