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SPX500 – approaching a resistance line that has been previously tested at least twice in the past

SPX500 is moving towards the resistance line of a Rising Wedge. Because we have seen it retrace from this line before, we could see either a break through this line, or a rebound back to current levels. It has touched this line numerous times in the last 2 days and may test it again within the next 10 hours.

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After testing the resistance line numerous times, USD/CAD is once again approaching this line. Can we expect a bullish trend to follow?

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We expect a 20 pip movement on AUDUSD within 12 hours following the event release.

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