11.06.2020
The pair corrected down within the general trend, as the market ended this month’s rally and correced down before a new wave of growth. Political tensions between China and Australia are also a negative factor for the currencey. Expect the pair to continue correcting down until the next positive news release.
Technical side:
The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the 50% level and is declining. Stoch are entering the oversold zone.
Trading recommendations:
Decline below 0.6900 will lead to a correction drop to 0.6825.
The AUDUSD rate online: monitor the movement of the pair in real time.
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