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AUDUSD currency pair recently reversed down from the key resistance level 0.75550 (top of wave (4) from last September, as can be seen from the weekly AUDUSD chart below), standing close to the upper weekly Bollinger Band. Given the strength of the aforementioned resistance level 0.75550 , overbought weekly Stochastic and the rising AUD pessimism sentiment across the FX markest today – AUDUSDcurrency pair can be expected to fall further toward the next support level 0.74000.
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