Greatest sell-off of Australian Dollar
The decision of the Australian central bank pressed the aussie down. How to trade it now?
AUD/USD: aussie hovering over cliff
2019-11-11 • Updated
Technical levels: support – 0.7725; resistance – 0.7780
Trade recommendations:
- Sell — 0.7760; SL — 0.7780; TP1 — 0.7690; TP2 — 0.7660.
- Buy — 0.7780; SL — 0.7760; TP1 — 0.7840; TP2 — 0.7880.
Reason: bullish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen; the market is under the strong resistance of 0.7780.
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AUD/USD is looking badly
AUD/USD began the week slightly higher reaching as high as 0.7725 before declining earlier today to 0.7690’s.
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AUD/USD formed an inverted "Head and Shoulders’ and is targeting 0.7815, 0.7840, and 0.7860.
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