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AUDUSD Excellent sell opportunity approaching.
AUSTRALIAN DOLLAR / U.S. DOLLAR FX_IDC:AUDUSD
TradingShot
The AUDUSD pair is approaching the 1-year Resistance Zone that has been in effect since June 2023 and has to this date priced 4 rejections. As long as the 1W MA200 (orange trend-line) holds, the market will continue to apply extreme selling pressure every time the price hits that Zone.
Wait for the most optimal sell entry on this level and target the top of the Support Zone at 0.63650. Notice also how perfectly the 1W RSI has been trading within a Rectangle and is also approaching its top, i.e. the most optimal long-term sell entry.
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