
The decision of the Australian central bank pressed the aussie down. How to trade it now?
2019-11-11 • Updated
Technical levels: support – 0.7280, 0.7220; resistance – 0.7330
Trade recommendations:
Reason: narrow bearish Ichimoku Cloud with falling Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen but narrowing channel Tenkan-Kijun; the prices returned inside a Cloud and may continue downtrend.
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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