The AUDUSD may bounce after the squeeze on buyers into the close

The AUDUSD spiked into resistance around 0.6925 on the USD move lower and then turned to squeeze out the buyers and give up a lot of the gains into the close. We expect to see a move higher from Fridays closing levels as specifics on the phase 1 trade deal filter through the market and the trade related Aussie opens stronger. Watch for a buy shoulder entry off a higher low to take advantage of a potential bounce.

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