AUDUSD Consolidates Above Weekly Chart Downchannel Resistance

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The AUDUSD is consolidating a 4th straight day in today's Asia morning as a weekly Doji forms just above downchannel resistance (on the 4hr chart). Significantly, the AUDUSD is just shy of the next whole figure level of .72 after testing it yesterday and earlier today, and appears to be gearing for a push in the next week or so towards the 2019 high. The weekly, daily and 4hr RSI, Stochastics and MACD are bottomish, rallying or consolidating recent gains. I am long as of today at .7179, targeting the red zone for mid next week, keeping in mind US traders will be largely off Friday and Monday for the Easter long holiday weekend. The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I sometimes set my stops tighter).

AUDUSD Weekly/Daily/4hr

AUDUSD Technical Analysis

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