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AUDUSD drops sharply to as low as 0.6988 level. Consolidation could be seen in a couple of days before breaking below 0.6988 level. Near term resistance is at the down trend line on 4-hour chart, as long as the trend line resistance holds, we’d expect downtrend to resume, and deeper decline is still possible after consolidation, a break down below 0.6988 will signal resumption of down trend.
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