The Aussie tries to recover but his outlook is still bearish

The AUDUSD continues trying to consolidate above support at the 0.9280 level and is now trying to climb to the resistance at the 0.9386 level.

However, it is very likely that the AUDUSD will conduct a bearish rebound at current levels, because the current bullish trend has been very lateralized in this pair and in the daily chart, the pair is approaching to the strong resistance at the 0.9349 level. In addition, the AUDUSD remains below the 200 day moving average and the MACD indicator is entering extremely overbought zone, so we must be careful when placing buy orders. Remember to always follow the trend and even more in this pair is so volatile.

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