20.02.2020
The pair is above 0.6640, still under pressure amid the expectations of a strong decline in Chinese economic growth due to the new virus' impact on the production activity. Australia is closely linked economically with China, so the decline in demand for Australian exports will harm the country's economy, which will ultimately affect the local currency exchange rate.
The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is in the oversold zone and is declining. Stoch are also there, but uninformative.
Trading recommendations:
Sell the pair after it crosses the level of 0.6640 with a likely target of 0.6600.
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