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AUDUSD Price Needs Positive Momentum – Forecast for Today, July 4, 2024

by Jennifer

AUDUSD Price Analysis

Expected Scenario

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The AUDUSD price encountered significant resistance at $0.6728, leading to temporary sideways trading. It has stabilized above the $0.6700 barrier, awaiting sufficient positive momentum to breach the aforementioned resistance and aim for the next major target at $0.6800.

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Therefore, our outlook maintains a bullish trend for the near future. However, a break below the $0.6700 support level could prompt a decline, with potential testing around $0.6640 before any renewed upward movement.

Expected Trading Range

Support: $0.6670

Resistance: $0.6770

Trend Forecast: Bullish

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