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AUDUSD (0.7137): The Australian dollar continues to post a modest decline to the downside although the pace of declines is not constant. Due to the failure to break out above 0.7191 resistance, the AUDUSD should push lower targeting 0.7022 where support is most likely to happen. In the event that price action posts a reversal, we expect the resistance level to hold the gains in the near term.

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