07.08.2019
AUDUSD
The pair is in a short-term downtrend caused by the escalation of US-China trade war. A sharp interest rate cut by RBNZ may also lead to lower rates by RBA in the near future.
The price is at the lower Bollinger band, below SMA 5 and SMA 14. RSI is above the oversold zone and uninformative. Stoch reverse upwards.
Trading recommendations:
There is a high probability of the pair recovering to 0.6750. It possible to sell the pair with the target 0.6620 either at an upwards rebound from 0.6750 or after its drop below 0.6700.
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