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Now that most major central banks have made their rate decisions where to next for the FTSE 100, DAX 40 and Euro Stoxx 50? ×

Potential Downside for AUDUSD - A Trading Opportunity Ahead!

Agarwal

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Agarwal Occasional Contributor

Agarwal

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PotentialDownsideforAUDUSD.thumb.png.4eb74b2eec4292a63402b8dbce4fb49d.png

Hey fellow traders,

I wanted to share some insights on AUDUSD for tomorrow's trading session. Currently, I'm closely monitoring this currency pair for a potential selling opportunity around the 0.66800 zone. The reason behind this is that AUDUSD has been trading in a clear downtrend, and it seems to be in a correction phase, approaching a significant resistance area at 0.66800.

As we analyze the market, it's important to consider upcoming events as well. This week, we have the RBA rate decision, which could greatly impact the direction of AUDUSD. If the decision turns out to be dovish enough, it would serve as a decent confirmation for the selling opportunity.

Remember to prioritize safety in your trades and exercise caution. Good luck out there!

Happy trading.
 

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