The Australian Dollar (AUD) rebounds on Monday, despite a slight dip in the US Dollar (USD) and higher US Treasury yields. Investors are eyeing Australian monthly Consumer Price Index (CPI) data for February and US Gross Domestic Product (GDP) for Q4 2023. The AUD gains momentum as the ASX 200 Index rises, especially in mining and energy sectors. Additionally, the Aussie...
AUD/USD: breakdown of SSA
2019-11-11 • Updated
Technical levels: support – 0.7850, 0.7810; resistance – 0.7880.
Trade recommendations:
- Buy — 0.7850; SL — 0.7830; TP1 — 0.7935; TP3 — 0.7980.
Reason: bearish Ichimoku Cloud with falling Senkou Span A and B; a new dead cross of Tenkan-sen and Kijun-sen; the prices are entered to negative area, but there is a strong support on the daily timeframe.
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