09.04.2020
The pair is supported as the Chinese economy is recovering and the pandemic’s peak is expected to be passed soon, as well as by RBA’s leaving the interest rates unchanged. As the pandemic subsides, the US dollar will weaken further amid the stimulus measures by the Fed and the Department of the Treasury, which will also support the pair.
Technical side:
The price is below the middle Bollinger band, at SMA 5 and above SMA 14. RSI is above the 50% level and indicates a weakening growth. Stoch are reversing in the overbought zone.
Trading recommendations:
Buy the pair above 0.6200 with a likely further increase to 0.6325.
The AUDUSD rate online: monitor the movement tof the pair in real time.
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