The pair remains under extrene pressure amid expectations of a strong drop in global economic growth due to the impact of the coronavirus on global business and economic activity, which leads to a drop in demand for commodity assets. The Australian dollar is a commodity currency.
The price is below …
Despite the obvious downtrend, the bears are weakening, while forming truncated wave patterns on the chart, which results the formation of a reversal wave pattern. Bullish divergence has formed on Awesome Oscillator.
Trading recommendations:
Buy strictly while an ascending wave pattern is forming, where the wave (A) breaks through the …
The Australian dollar fluctuated in a narrow range tilted to the upside during the Asian session to witness its bounce to the second session from the lowest since April 7, 2003 against the US dollar amid the growing fears of the spread of the Corona virus epidemic globally and in …
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