Aussie Selloff Ahead?
AUD/USD has been trying to break higher for an extended period but without any chance. From April until today, all rallies’ attempts have faded as shown on the daily chart.
AUD/USD falling inside minor corrective wave 2
2019-11-11 • Updated
- AUD/USD falling inside minor corrective wave 2
- Next sell target - 0.7880
AUD/USD continues to fall inside the sharp minor corrective wave 2, which started previously from the combined resistance area lying between the major resistance level 0.8100 (which also stopped the sharp impulse wave (A) in September, as can be seen below) and the upper daily Bollinger Band. AUD/USD is expected to fall further toward the next sell target at the next support level 0.7880 (former resistance level from January).
Similar
USD: a sudden plunge for a quick pick-up!
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
AUD/USD: to the six-year highs?
Will the weakness of the USD let the AUD take advantage of it?
Latest news
The Battle for Oil. OPEC Strikes Back
The past several weeks have been a real triumph for the bulls in the oil market. The Brent spot price grew by 8.5% during the last month.
Gold is Rising Despite Inflation Returns
Gold prices are rising for three consecutive days ahead of the Federal Reserve (Fed) interest rate decision, which is expected to remain unchanged due to declining inflation and a positive economic outlook. Investors are keen on the Fed's interest rate guidance, fearing a hawkish stance that could trigger market risk aversion.
Can the Chinese Economy Recover?
Amid concerns of a Chinese economic slowdown, reports of declining investment often overlook China's efficient investment strategy in emerging sectors for long-term growth. China has taken measures to stabilize foreign and private sector investments, like reducing the reserve requirement ratio to boost investor confidence.
