AUD/USD Daily forecast
The AUDUSD had a significant bearish correction yesterday. On daily chart below we can see that price is testing the lower line of the broadening formation which is expected to be a good support at this phase to prevent further bearish pressure and continue the bullish scenario. I think the lower line of the broadening formation is a good place for a long position with stop loss below the lower line as actually the current bearish momentum is only a normal correction. A movement back inside the formation could lead us not only to a no trading zone but potential bearish outlook as bullish scenario may fail.
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