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Audusdbuy

AUDUSD potential reversal! AUDUSD expected to rise up to 1st resistance at 0.69286 where it could potentially react off and drop down to 1st support at 0.68637. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Short
by Pepperstone
Buy AUDUSD from support in Today’s EU Trading SessionBuy AUDUSD from support TP: 0.6900 Q4 2019 included two key positive developments for global risk appetite 1) the Brexit deal breakthrough 2) and the US-China "Phase One" trade deal This was enough for the Aussie to reach highs since July. Domestically, Australia continues to print trade surpluses and iron ore's 3-month highs are backed by a bounce in copper prices (coal remains a weak spot). Yet 0.6950 did not give way and it is easy to imagine US-led trade tensions returning in 2020. Most importantly, we expect the RBA to lower its Australia GDP forecasts and cut the cash rate in February, an outcome only about 50% priced. The Aussie should continue to meet sellers with a 0.69 handle over year-end, with risks below 0.67 on anticipation of or delivery of a February cut.
Long
by TheOfficialAdli