There is no doubt about the trend in AudUsd's case, is down. However, looking at the bigger picture, we can see that this trend is in fact a correction of the strong impulse up started in March 2020. Now the pair is facing strong horizontal support backed by the 50% Fibo of this leg up. With DXY at 110 and very close to a correction, I expect AudUsd to find its bottom soon and, in the long run, reverse its trend. 0.65 can be a good place to look for a buy-and-hold trade.
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