AUDUSD_chart 10.11AUD/USD (D1) has recently broke below an important, long term support. After a few days, price is approaching this level once again. It is a classic retest of previously defeated zone.

Momentum here is still strongly downward, so it is possible that the correction will end near 38.2% Fibo (and we are actually at this level). Technical analysis indicates losses – to complete the setup we just need a signal candle assuring, that supply reaction has already started.

AUDUSD_screen 10.11

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