RBA interest rate cut decision did not help this pair to fall further but as we know FED is expected to hike interest rates which will increase selling pressure and we might see this pair to sell into rallies.
On the technical side the pair is moving to consolidation and there is a nice confluence zone around 0.7900 - 0.7880 which will encourage potential sellers to sell this pair into rallies.
On the technical side the pair is moving to consolidation and there is a nice confluence zone around 0.7900 - 0.7880 which will encourage potential sellers to sell this pair into rallies.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.