The Australian dollar fluctuated in a narrow range tilted to the upside during the Asian session, to witness its bounce to the second session from the lowest since October 2, when it tested the lowest since mid-March 2009 against the US dollar, following the economic developments and data that it …
The price pivot zone of 763.90 holds back sellers. Probably, the downward movement is a corrective wave (B), an upward construction. Also, Stochastic Oscillator signals oversoldness.
Trading recommendations:
Buy while an ascending pattern is forming, where the wave (as) breaks through the inclined channel of the descending pattern.
Stop loss …
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