
The decision of the Australian central bank pressed the aussie down. How to trade it now?
2019-11-11 • Updated
Technical levels: support – 0.7500; resistance – 0.7550.
Trade recommendations:
1. Sell — 0.7550; SL — 0.7570; TP1 — 0.7500; TP2 — 0.7470.
Reason: expanding bearish Ichimoku Cloud, falling Senkou Span A; a new dead cross of Tenkan-sen and Kijun-sen, falling Tenkan-sen; the prices are in channel Tenkan-Kijun under a strong resistance of Kijun-sen and Senkou Span A.
The decision of the Australian central bank pressed the aussie down. How to trade it now?
AUD/USD began the week slightly higher reaching as high as 0.7725 before declining earlier today to 0.7690’s.
AUD/USD formed an inverted "Head and Shoulders’ and is targeting 0.7815, 0.7840, and 0.7860.
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