The AUDUSD is Testing Confluence of Resistances Ahead of Inflation Data
The AUDUSD is testing the confluence of the 78.6% Fib and the ascending channel’s T/L resistance ahead of the data tomorrow. A dollar bearish outcome (lower than expected inflation) should produce a breakout higher for the pair with 0.7025 being the next upside target. Alternatively a higher than expected number should produce a rejection and a move back to 0.67.
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