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AUDUSD recently broke the support level 0.62000 – which was preceded by the breakout of the lower trendline of the daily down channel from the end of 2018. These two support breakouts accelerated the active impulse waves 3 and (3). With the rising bearish Australian dollar sentiment and considering the downtrend visible on the weekly AUDUSD charts – AUDUSD is likely to fall further toward the next round support level 0.60000 (forecast price for the completion of the active impulse wave (3)).
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