AUDUSD could decline in the near term

18 February 2021

AUDUSD is currently trading near the downward sloping trend line suggesting limited upside potential; RSI is declining supporting the above observation. The pair is also making a potential double top near current levels suggesting it could decline in the near term. It would be prudent to say that silver could decline towards 0.7710 and 0.7675 while it sustains below 0.7810.

Prepared by
Technical Analysis Team

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