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

VN:F [1.9.22_1171]
Rating: 4.1/5 (11 votes cast)
4.1 out of 5 based on 11 ratings

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>