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AUD/USD Technical Outlook - 4

|Includes:CurrencyShares Australian Dollar Trust ETF (FXA)

In our last analysis of this pair, we predicted a long-term rally into the 1.0227 area.

Now and looking at the Daily chart, we observe clear signs of exhaustion of the bulls.

Traders are advised to seek shorting opportunities in lower times frames.

Disclosure: I have no positions in any stocks mentioned, but may initiate a short position in FXA over the next 72 hours.

Stocks: FXA