Technical analysis of AUD/USD 02/09/2020
The currency pair Australian Dollar to US Dollar AUD/USD on the weekly chart broke through and consolidated above the 0.7200 level zone, which coincides with the 61.8% Fibo and MA200. In accordance with the breakdown of the upper border of the downtrend and convergence on the RSI indicator, this most likely means a change in the long-term trend to an upward one with a potential target of 0.8100 (2018 highs). Cancellation of the uptrend development option will be the pair’s decline below the previous maximum at 0.6950.
Created by Joshua Hayn