AUD/USD Technical Analysis
AUD/USD has been rising through a steep rally last few months.
It has now hit a strong brick wall (zone) of psychological level 0.70 and price action resistance 0.70270.
After this big rally, it is prudent to expect profit booking and the break of immediate trendline and support of 0.69575 makes it evident.
We expect some more profit booking in the near-term and push the prices lower as long as the market holds below the resistance of 0.70270.
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