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EUR/USD – breach of a trending resistance line that has been tested at least twice before.

This trade setup on EUR/USD is formed by a period of consolidation; a period in which the price primarily moves sideways before choosing a new direction for the longer term. Because of the bullish breakout through resistance, it seems to suggest that we could see the next price move to 1.0766.

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We expect AUDUSD to trend downwards for the next 48 hours.

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