08.10.2018
AUDUSD
The pair is trading below the level of 0.7085 and is still under pressure as the risk appetite is dropping in the markets due to the escalating US-China crisis.
The price is below the middle Bollinger band, above SMA 5, but below SMA 14. RSI is leaving the oversold territory. Stoch aren’t informative.
Trading recommendations:
The pair may recover to 0.7085 due to the partial closing of short positions. Sell the pair approximately from this level with a local target of 0.7020.
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