
Yesterday
an attempt by the AUDUSD pair to break through what was then a fairly minor
level of support in Technical Analysis terms did not happen. In the process,
the minor support has now been reinforced to become a more significant barrier,
simply by virtue of the failure of the rate to break through it. In addition, a
channel has now formed, between the levels of 0.932 and 0.9136.
The bias on this pair is still very much to the short side.
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