28.04.2020
The pair has fully formed the descending flag trend continuation pattern. It’s supported by the increased demand for risk assets, the revitalization of China-Australia trade, as well as the possible weakening of the US dollar amid the unprecedented stimulus measures by the Fed and the US Treasury.
Technical side:
The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is above the 50% level and is turning up. Stoch are still declining.
Trading recommendations:
Buy the pair as long as it holds above 0.6440 with a likely increase to 0.6545.
The AUDUSD rate online: monitor the movement of the pair in real time.
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