A breakout or breakdown is approaching... but I am not sure what the extent of the move could be. The Aussie looks like it'll be in some sort of consolidation in the rectangle I drew out. I think it will be best to play this based on the daily breakout and manage the trade very aggressively. If price breaks to the downside .7245 is my initial target. If price breaks to the upside .8120 is my final target.
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I am a buyer at the exact same level - purple line at .7250
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