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AUD/USD More Downside In View

Price drops again after the yesterday’s rebound. The pair had come back to retest the median line (ml) of the minor descending pitchfork and now tries to resume the bearish movement. A further drop will be confirmed after a valid breakdown below the 0.7835 static support. The major downside target will be at the WL1, it could also be attracted by the lower median line (lml) of the descending pitchfork.

MultiBank Exchange Group
MultiBank Exchange Grouphttp://www.mexgroup.com
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.

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