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Audusd Is Forming A Sideways Consolidation
AUDUSD is forming a sideways consolidation in a range between 0.8493 and 0.8812. Rebound to test 0.8812 previous high resistance is possible in a couple of days. As long as this level holds, we’d expect down trend to resume and deeper decline could be seen to 0.8400 zone. However, above 0.8812 will indicate that the down trend from 0.9849 (July 15 high) has completed and further rebound towards 0.9000 level could be seen to follow.
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