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AUDUSD is forming a bearish wedge pattern. Price is in an upward sloping triangle pattern. Price is challenging lower support boundary at 0.7150 and breaking it will be the first weakness signal.
A selling signal is triggered on a break below this support at 0.7150-0.7140 with a stop at recent highs at 0.7270. Target is at 0.69-0.68 at the beginning of the formation of the wedge pattern. Confirmation of this bearish signal will come when price breaks below 0.7090. Then we can lower stop to 0.7210.InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.