The pair dropped below the strong support level of 1.3860, where it has been trading recently. The increase in crude oil prices amid the renewed economic activity as countries lift lockdowns supports the demand for risk assets and crude oil, while pressuring the US dollar.
Technical side:
The price …
A false breakdown has formed. Awesome Oscillator shows a bearish divergence, while Stochastic Oscillator showed an exit from the overbought zone. Breaking through the support level of 1.1894 will result in the formation of a 1-2-3 descending pattern.
Trading recommendations:
Sell below 1.1894.
Stop loss: 1.1960.
Target levels: 1.1852; …
The Australian dollar versus the US dollar continues to fluctuate when supporting the main bullish channel, which now rises to 0.6530 and maintains its stability above it. Therefore, our expectations for the upward trend will remain valid for the next period, which targets the level of 0.6685 as the next …
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