Bearish price action on the AUD/USD daily chart, as shown, appears to be headed even more south, possibly targeting a key long-term downtrend line currently in the 0.6500 region. Price has already broken down below the skinny parallel uptrend channel, as noted on this blog late last week (AUD/USD - Traversing a Breakable Channel). And the bias continues to look bearish. More updates and levels to come on this pair if price succeeds in breaking down below the above-mentioned long-term downtrend line.
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