It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
AUD/USD: aussie left Cloud’s area
Technical levels: support – 0.7370; resistance – 0.7420/40
- Sell — 0.7430; SL — 0.7450; TP1 — 0.7370; TP2 — 0.7330.
Reason: bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen, horizontal lines; the prices are in negative zone now and may continue existing downtrend.
GBP/AUD opened the week with a gap down. Things like that have already happened before and, back then, the price continued its way down.
AUD/NZD formed a “shooting star” candlestick on the W1. The pair ran into the resistance line from the 2018 highs and failed to close above the 200-week MA at 1.0650.
The dollar index was up late Tuesday afternoon in Asia, extending the 0.8% gain in the previous session, when COVID-19 fears and worries over the US Congress’ stimulus impasse drove a selloff across other assets.
Bank of England Governor Andrew Bailey delivered a speech today. Let’s discuss what it means for a trader.
Gold has started a remarkable downside correction and stands on the key 23.6% retracement area after a failure to hold the 38.2% retracement area.