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AUDUSD recently reversed down from the resistance zone lying between the pivotal resistance level 0.65600 (top of the previous impulse wave A) and the upper daily Bollinger Band. The downward reversal from this resistance zone started the active short-term impulse wave ©. With the growing bearish Australian dollar sentiment seen across the markets today, AUDUSD is likely to extend the losses toward the next support level 0.63700 (low of the previous (b)-wave from the start of May).
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