AUDUSD rejected from the strong upside resistance/downside support
AUDUSD has been rejected from 0.7000. This is a strong horizontal upside resistance coupled with falling trend line and a break below 0.6850 again would lead definitely to a downside continuation as the pair is still in the downtrend and is not showing any signs of uptrend reversal. Only a confirmed break above 0.7050 could invalidate the downside continuation which is at this stage highly unlikely.
Note: look for the short trade entries with the stop loss above 0.7000
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