10.04.2020
The pair remains in a short-term uptrend amid the more positive global market sentiment and hopes that the peak of the coronavirus pandemic is just around the corner. The pair is also supported by the recovery of economic activity in China after the pandemic, increased demand for commodity assets, the obvious weakness of the US dollar against the backdrop of the unprecedented stimulus measures by the Fed, as well as the recent decision of the RBA not to change interest rates.
Technical side:
The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is in the overbought zone. Stoch are also moving in this zone.
Trading recommendations:
The pair may correct down to 0.6280. Buy it from this level if it does not hold above 0.6340 with a local target level of 0.6500.
AUDUSD rate online: monitor the movement of the pair in real time.
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