AUDUSD on the move
AUDUSD lost 0.74% in the last trading sessions of the week, and it's on a four-day losing streak; the USD strengthened after the 10-year treasury yield climbed to 3.88%. The pair continues on a downward trend, and the price broke the support level at $0.63633, reaching a new low in over two years.
The Bollinger bands are wide and moving downwards, suggesting that there will be high volatility and that price will continue to fall in the upcoming trading sessions.
The RSI is about to enter the oversold status, which could change the market sentiment; fundamental news will be key to determining if the AUDUSD pair will continue moving downwards in the short term.
Read more news.baxiamarkets.com/aud/usd-on-the-move
This publication does not provide financial advice for traders, and its only purpose is education. Use all the available information from different analysts and develop your own trading strategy. Trading forex and cryptocurrencies is not for everyone. You should only trade with money you can afford to lose. Past performance does not indicate future results.
The Bollinger bands are wide and moving downwards, suggesting that there will be high volatility and that price will continue to fall in the upcoming trading sessions.
The RSI is about to enter the oversold status, which could change the market sentiment; fundamental news will be key to determining if the AUDUSD pair will continue moving downwards in the short term.
Read more news.baxiamarkets.com/aud/usd-on-the-move
This publication does not provide financial advice for traders, and its only purpose is education. Use all the available information from different analysts and develop your own trading strategy. Trading forex and cryptocurrencies is not for everyone. You should only trade with money you can afford to lose. Past performance does not indicate future results.
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