Technical overview of the forex pair AUDUSD 20.02.2020
Pair AUDUSD is above the level of 0.6640, while remaining under pressure on expectations of a strong decrease of the Chinese economy due to the impact of industrial activity on coronavirus. Australia is closely linked economically with China, thus reducing the demand for Australian exports will hit the economy of the "green continent", which ultimately will affect the rate of the local currency.
AUDUSD price is below the midline Bollinger indicator 5 below SMA and SMA 14. RSI RSI is at oversold line and reduced. Stoch also lie on this line, but are not informative.
Recommendations for AUDUSD trade:
We consider it possible to sell the pair after e` AUDUSD 0.6640 level crossing with a likely target 0.6600.
Analytics Grand Capital
Analytical reviews and comments reflect the personal opinion of the authors and are not a recommendation to trade. Special Forex shall not be liable for any damages in case of a vision materials.
FOREX FORECAST → Forex. Forecast 06.06.2016 AUD / USD
FOREX FORECAST → the Forex. AUD / USD forecast for today 06/14/2016
FOREX FORECAST → Forex AUD / USD Forecast 06/09/2016
FOREX FORECAST → Forex forecast 17.06.2016 AUD / USD