AUD analysis 27.05.2019

The Australian dollar fluctuated in a tight range slipping towards the Asian session to stabilize near its lowest level in almost six months against the US dollar amid a lack of news from the Australian economy and on the cusp of the US market absent for Memorial Day holiday there.

At 0235 GMT, the Australian dollar fell 0.07% to 0.6923 compared with the opening levels at 0.6929 after recording a low of 0.6923 and a high of 0.6937.

Before opening the week's trading on a low price gap.

Technical Analysis

The major currencies and commodities are showing weak and tight trading, affected by the holiday of the financial markets of most banks, which keeps the suggested scenarios in our recent reports unchanged. We recommend reviewing our previous reports to identify pivotal levels and expected targets for the coming period.