09.09.2019
The Australian dollar rose during the Asian session to rebound for the fifth consecutive session from the lowest since August 7, when it tested the lowest since March 18, 2009 against the US dollar amid lack of economic data earlier this week by the economy The Australian and American economies are the largest in the world.
At 02:43 am GMT, the Australian dollar against the US dollar rose 0.20% to 0.6856 levels, compared to the opening levels at 0.6836, after the pair reached its highest since early August at 0.6861, while achieving the lowest during the trading session At 0.6836.
AUDUSD succeeded in breaching the 0.6830 level and holding above it, supporting the chances of continuing the bullish bias to test the resistance of the main channel falling around 0.6900.
Thus, we will continue to favor the bullishness over intraday basis, keeping in mind that the breach of 0.6830 will stop the suggested rally and press the price to return to the main bearish path again.
Expected trading range for today is between 0.6800 support and 0.6920 resistance.
Expected trend for today: Bullish.
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