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AUD/USD: Ascending Channel

AUD/USD, 1 day    SHORT May 29
An ascending channel is close to being done, the price is going to break out. An ascending channel denotes a specific bearish price action pattern that can be used to predict prices are likely to keep falling downward once price breaks through the support. There is a probability of a bearish move towards the 0.765 level on a break below 0.772.
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