03.09.2018
AUDUSD
The pair is below 0.7200 as the world economy is feared to be unable to continue growing against the background of the trade wars started by the US. Another negative factor for the pair is the released PMI data in China which showed a decline from 50.8 to 50.6 in August.
The price is below the middle Bollinger line, above SMA 5, but below SMA 14. RSI is in the oversold zone. Stoch indicate a possible upward reversal.
Trading recommendations:
The price’s inability to grow above 0.7200 may result in its returning down to 0.7100.
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