01.04.2020
The COVID-19 situation forces investors to exercise caution, which is expressed in limited purchases and sales of assets. The factor of uncertainty still hangs over the markets. The expected extremely weak US employment data from ADP today and from the Department of Labor on Friday puts pressure on the pair and on the demand for risk assets in general.
Technical side:
The price is above the middle Bollinger band, below SMA 5 and SMA 14. Moving Averages suggwat selling. RSI crosses the 50% level and also gives a sell signal. Stoch are turning down.
Trading recommendations:
Sell the pair after its decline below 0.6080 with a likely local target of 0.5945.
The AUDUSD rate online: monitor the movement of the pair in real time.
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