17.04.2020
The pair turned up amid optimistic news as Gilead reports successful coronavirus drug Remdesivir trial in Chicago with 125 patients. This stimulated the demand for risk assets in Asia, and the same was observed at the opening of trading in Europe. That positive sentiment will push the pair to local growth.
Technical side:
The price is at the middle Bollinger band, above SMA 5 and SMA 14, which intersect and give a buy signal. RSI is above the 50% level and moves horizontally. Stoch indicate a weakening of the price growth.
Trading recommendations:
Buy the pair after it crosses 0.6380 with the local target of 0.6480.
AUDUSD rate online: monitor the movement of the pair in real-time.
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