AUD/USD Price Analysis: The bears are relentless, taking on fresh mitigation territory and eye 0.6890 By ross_burland AUDUSD Technical Analysis
, the price has moved in to mitigate an inefficiency that was highlighted as follows:
With that being said, overstretched impulses will need to correct at some point, the question, for now, is when will the bears start to take profits? A retracement to the 38.2% Fibo that aligns with old support near 0.7050 could play out. However, the 4-hour chart shows no sign of deceleration so far and exposes 0.6890 first:
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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