Because AUD/USD formed a Channel Down pattern, we expect it to touch the resistance line. If it breaks through resistance it may move much higher

Possible breach of resistance level by AUD/USD
AUD/USD is moving towards a resistance line which it has tested numerous times in the past. We have seen it retrace from this line before, so at this stage it isn’t clear whether it will breach this line or rebound as it did before. If AUD/USD continues in its current trajectory, we could see it reach 0.6431 within the next 2 days.

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