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Scandex Market Update – May 18

Scandinavian Capital Markets

The downside remains favored in AUDUSD towards the .6250s. The former 4th wave low is .6254 and VWAP from the March low is currently .6249. This is also the lower parallel of the bearish fork from the high. If AUDUSD is bearish then resistance should be about .6460, which is the underside of the line off of the 4/21 and 5/6 lows and VWAP from the April high.

Scandinavian Capital Markets Review

Source: https://scandex.com/2020/05/18/market-update-may-18/
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