AUD/USD Daily Chart: Downward long-term trend, correction to horizontal and diagonal resistance. Possibility of short positions with stop 0.733.
Alternative Scenario: If the price closes a daily bar above both resistances, it is possible that the correction continues. Contrary to this scenario, there is a price action signal for a rise in the face of the Japanese candle formation 3 white soldiers. For now, this is the only technical criterion for long, so short positions are of greater technical weight.
Comment: Downward movement. Horizontal adjustment and diagonal. This level coincides with 38.2% Fibonacci, as well as 50 MA. 50/200 MA - Bearish formation. The CCI 50 is below 0, indicating that the main move is still negative. For a more precise input, we expect RSI 14 to cross 50 from top to bottom.
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