The Australian dollar fluctuated in a narrow range that tends to rise during the Asian session, to witness its rebound for the second consecutive session from the lowest since July 20 against the US dollar on the cusp of the decisions and directions of monetary policy makers at the Reserve …
The support level of 47.00 remains unbroken. Bullish divergence has formed on Awesome Oscillator. Stochastic Oscillator indicates oversold conditions. A breakout of 48.93 will result in the formation of an upward 1-2-3 pattern.
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Trading recommendations:
Buy on the breakout …
Analytics based on round levels, price channels and modified wave analysis.
The round minor level 1.7520 is holding back sellers. A descending truncated pattern has formed. Bullish divergence has formed on Awesome Oscillator, while the moving averages of Stochastic Oscillator have left the oversold zone.
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