DeGRAM | AUDUSD channel boundary pullback

AUDUSD is moving in an ascending channel between the trend lines.

After reaching the dynamic resistance three times, the chart went for a pullback.

We think that the price will continue to strive for the lower boundary of the channel.


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Comment:

AUDUSD has already made a movement and (what’s important!) broke through the level of 0.658. After which it settled below the level.

This gives us the opportunity to expect the decline to continue.

The final target is 0.652 - the support level.