A stellar run higher on AUDUSD, currently on its 10th day higher from the last pivot. A confluence of indicators and trendline intersections makes AUDUSD a decent short at 0.6420-0.6470 zone. 50% Fib retracement level from the fall from Sept 2024 highs. 200-day Moving Avg at 0.6470. Downsloping parallel channel - the top has hit (only the second hit, suggesting a pull-back). Bearish RSI divergence. How many more signals does one need?! Initial target is 0.6200, but likely a move to the bottom of the channel - around 0.5850
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.