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AUD/USD Outlook

|Includes:CurrencyShares Australian Dollar Trust ETF (FXA)

In our previous analysis, we predicted the rally based on harmonic patterns and those who followed our advice made a nice profit of about 300 pips in less than a week.

Now, the price has come to the target area a day sooner than expected and taking into account the strong resistance, if the Aussie is not able to break the resistance until tomorrow, we will be thinking of shorting it. The longs should be offset and we will seek an opportunity to sell the Aussire short.

Stocks: FXA