01.05.2020
The pair is consolidating above 1.2540 as the British PM Boris Johnson reports that the country's coronavirus epidemic has reached the peak and its negative impact will begin to decline soon. From a technical point of view, the pair remains in a short-term uptrend, which will lead to an increase in the GBP rate due to a receding pandemic impact and the potential weakness of the dollar against the background of broader stimulus measures from the Fed and the US Treasury
Technical side:
The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI is under the overbought zone. Stoch are declining.
Trading recommendations:
If the pair holds above the 1.2540, it will be likely to test 1.2655 again.
The AUDUSD rate online: monitor the movement of the pair in real time.
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