AUD/USD remains under pressure amid broad USD strength and weak commodities and is heading towards a test of Wednesday’s low at 0.8480. While overall sentiment remains bearish, the daily charts suggests the move might be overextended in the near-term, with RSI showing a divergence. However, with downside momentum currently heavy and no strong support level near, I would wait for price action to confirm the set-up before buying the Aussie.
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