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AUD/USD: Descending Channel

AUD/USD, 1 hour    LONG Mar 20
A descending channel is close to being complete, the price expects a more strong bullish move as a clue of a breakout. A descending channel is a technical bullish price action signal that signals a pause in a downtrending market when price breaks out to the the upside. It is likely that a rangebound to the 0.654 level will be made on a breakout of the descending channel amid rising bets for the move.
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