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  • AUD/USD meets critical resistance at a confluence of structure and a 38.2% Fibo.
  • Bears eye a downside opportunity at this juncture.  

AUD/USD is lacking momentum on the upside which makes for a compelling case for the downside at this juncture, as illustrated in the following daily chart:

Daily chart

The price is consolidating with failures at resistance  above a  key support stricture that guards the next major demand zone.