The pair corrected up to 0.6770 due the partial profit taking. If it holds above this level, it is likely that the pair will resume growth on the recovery of demand for risky assets recovers.
The price is above the middle Bollinger band, below SMA 5 and at SMA 14.RSI …
The downward price channel is broken. A bullish divergence has formed on Awesome Oscillator indicator. Stochastic Oscillator indicator has left the oversold zone and its moving averages are directed upwards. The nearest resistance level is 19.47.
Trading recommendations:
Buy above 19.47.
Stop loss – 18.15.
Target levels – 21.00; 23.26.
The Australian dollar rose during the Asian session to witness the bounce for the fifth session in eight sessions from the lowest since March 18, 2009 against the US dollar following the developments and economic data released by the Australian economy on Thursday and on the eve of developments and …
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