07.09.2020
The pair is consolidating above the support level of 0.7265 during the public holiday in the US and under the influence of competing factors: the Fed’s soft monetary policy stifles growth, while the strong technical oversold condition prevents the price from dropping.
Technical side:
The price is located below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the 50% level and is turning down. Stoch are also reversing downwards.
AUDUSD rate online: monitor the price movement in real time.
Trading recommendations:
If the price drops below 0.7265, it will go further down 0.7200.
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