15.10.2020
The pair is declining following the release of consumer inflation data in China despite the positive employment numbers in Australia. The overall decline in risk appetite in the markets and the second wave of COVID-19 has a broad negative impact on economic activity in the world and supports the US dollar against commodity currencies.
Technical side:
The price is at the lower Bollinger band, below SMA 5 and SMA 14. RSI is below 50% and is declining. Stoch are in the oversold zone and indicate a weaker decline.
AUDUSD rate online: monitor the price movement in real time.
Trading recommendations:
If the price drops below 0.7125, it will go further down 0.7095, and then possibly to 0.7065.
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