09.11.2020
The pair is trading above the 0.7270, supported by the demand for risk assets amid as Joe Biden is proclaimed as the President-elect. The pair is also supported by the rising expectations of a decrease in tension between Washington and Beijing, which will have a positive impact on the Australia-China trade.
Technical side:
The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is at the level of the overbought zone. Stoch are entering into this zone.
AUDUSD rate online: monitor the price movement in real time.
Trading recommendations:
Buy the pair on a possible pullback down to 0.7270 with a subsequent rise to 0.7345.
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