The pair is supported by China’s economic growth after the winter’s strongest pandemic-induced shock. The global weakness of the US dollar following the massive stimulus measures, as well as the recovering business activity in China, will support the Australian dollar.
Technical side:
The price is above the middle Bollinger …
The overall trend is upward. The support level of 78.63 is holding back sellers. Stochastic Oscillator indicates an oversold condition. A breakout of the price pivot zone of 79.12 will result in the formation of an ascending wave pattern within the overall uptrend.
: monitor the …
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