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AUD/USD: moving inside extended range within down-trend

The aussie is stuck in a range-bound consolidation within a longer-term down-trend.

Although it has made a tentative break above a major trend-line, upside has been muted since, and it is too soon to talk about a reversal of the strong down-trend.

Given the overall trend remains down I would expect more downside to evolve eventually. The current up-move seems to be part of a larger a-b-c correction which appears to be in the process of completing, and may then lead to a move lower as the broader bear trend resumes.
AUDUSD14c

   
The aussie is stuck in a range-bound consolidation within a longer-term down-trend.

Although it has made a tentative break above a major trend-line, upside has been muted since, and it is too soon to talk about a reversal of the strong down-trend.

Given the overall trend remains down I would expect more downside to evolve eventually. The current up-move seems to be part of a larger a-b-c correction which appears to be in the process of completing, and may then lead to a move lower as the broader bear trend resumes.
AUDUSD14c



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