AUD/USD failed and ended up closing lower. This candle is an outside candle, and as such it looks like we could be setting up for a pullback.
In our opinion, this will be a return to the consolidation that seems to war risk around the 1.04 level. With that being said, we think that weakness could be coming into the marketplace, and a short-term trader may take advantage of a break of the lows from the Tuesday session in order to pick up about 50 pips or so. On a break of the highs, this market should go looking for the 1.06 level.


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