AUDUSD: Channel Breakdown and Downside Threat

AUDUSD Daily

The asset was in an ascending channel, fluctuating between its boundaries. Now, the price is breaking this channel, and the key support is testing at 0.6276.

If the price consolidates below the channel and breaks the support, the decline may accelerate to 0.6204.

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Author: FBS Analyst Team

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