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AUD/USD: downtrend may continue

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Technical levels: support – 0.7610, 0.7670; resistance – 0.7690

Trade recommendations:

  1. Sell — 0.7660; SL — 0.7680; TP1 — 0.7610; TP2 — 0.7580.

Reason: expanding bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen, but narrowing channel of Tenkan-Kijun; the prices are corrected to Kijun’s support and now may continue the existing downtrend bounced from the lines.

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