AUDUSD currency pair is moving in a downtrend, where are formed lower lows and lower highs. Currently, there is an upward correction, which reached averages channel SMA 40 (HLC). This channel previously worked as a support and now provides resistance.
In the average’s channel appeared candlestick pattern – Outside Bar, which indicates in this case advantage of supply. It occurs in a downtrend and on the dynamic resistance, so you can consider playing on the decline (PUT option).
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