13.04.2020
The pair is trading higher amid the strengthening demand for commodity assets as the economic activity in China is recovering, and investors expect the coronavirus pandemic to peak and subsequently recede. This will only contribute to the strengthening of the Australian currency.
Technical side:
The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is in the overbought zone and moves horizontally. Stoch are turning up.
Trading recommendations:
If the pair holds above 0.6340, it may rise further to 0.6500.
The AUDUSD rate online: monitor the movement of the pair in real time.
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