AUD/USD Price Analysis: Bulls lack upside conviction at daily resistance
|- AUD/USD meets critical resistance at a confluence of structure and a 38.2% Fibo.
- Bears eye a downside opportunity at this juncture.
AUD/USD is lacking momentum on the upside which makes for a compelling case for the downside at this juncture, as illustrated in the following daily chart:
Daily chart
The price is consolidating with failures at resistance above a key support structure that guards the next major demand zone.
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