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The aussie is in the bear zone....

AUDUSD Tech analysis by Simon Kazinsky on 14:24 September 19, 2014 EST

The daily chart shows a beautiful head and shoulder formation that has given way. It also shows an ascending trendline being broken.

Retail traders are long the pair which further emphasises the bearish case.

AUDUSD could easily reach the 0.80 mark in a few weeks.