AUDUSD is making a very strong drop, coming out of a triangle as stocks remain in risk-off mode. We’re seeing a sharp move to new lows for 2024, but keep in mind that moves out of a triangle are final in a sequence. So, despite the strong sell-off, we wouldn’t be surprised if the market tries to stabilize, which is already happening according to RSI divergence. We have nice bounce so far, but it can still be a bit too soon for bullish call, but this will change if we see daily/weekly closes above 0.6218.
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