AUD/USD Trend Analysis: Exploring Potential Reversal Scenarios

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AUD/USD extends its gains on Thursday despite the release of soft Consumer Inflation Expectations for July by the Melbourne Institute, reflecting subdued consumer expectations on inflation over the next 12 months.

The upward movement in the AUD/USD pair is underpinned by increasing speculation that the Reserve Bank of Australia (RBA) might delay joining the global trend of interest rate cuts or even consider raising rates anew.

From a technical standpoint, our analysis identifies a significant supply area affecting major currency pairs against the USD. This area is characterized by a convergence of supply-demand dynamics, seasonal influences, and the key 78.6% Fibonacci retracement level. These factors collectively reinforce our confidence in the potential for a reversal in the price trajectory.

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✅ I'm Closing 50% Volume of the position and Move SL to Breakeven.

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✅ I'm closing 100% of the Position Right now.

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