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AUD/USD Forex Technical Analysis – Forming Potentially Bearish Weekly Reversal Top – FX Empire
The early price action suggests that the Fibonacci level at .7145 is the level to watch into the close on Friday.
Daily AUD/USD
The main trend is up according to the daily swing chart. Earlier in the week, the AUD/USD reached its highest level since early 2019. A trade through .7276 will signal a resumption of the uptrend. The main trend will change to down when sellers take out the last swing bottom at .7109.
The minor trend is also up. A trade through .7136 will change the minor trend to down. This will shift momentum to the downside.
The minor range is .7276 to .7136. Its 50% level at .7206 is resista…
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