AUDUSD: Daily
Lastly, let's take a look at the daily chart of AUDUSD. After topping out just above 0.9300, the pair has retraced and touched 38.2% Fibonacci retracement level, which just happens to coincide with a long term rising trend line. With a doji forming after yesterday's action and the pair showing bullish divergence, could we see the pair rise up once again and test the yearly high at 0.9328? Or will sellers dominate the market and finally break through the uptrend line and test support at 0.8550?
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