Forex Signal For AUD/USD: Eyes of the Bear Market 0,700 Relief Rally Will Fade.
Forex Signal For AUD/USD: Eyes of the Bear Market 0,700 Relief Rally Will Fade.
While the pair's outlook is bearish, a drop below the support at 0,7088 is likely.
Bear Market Outlook
- Set a sell-stop at 0,7085 and a take profit at 0,7000.
- Add a stop-loss at 0,7100.
- Timetable: 1-2 days.
Forex Signal For AUD/USD: Eyes of the Bear Market 0,700 Relief Rally Will Fade.
Bull Market Outlook
- Set a buy-stop at 0,7150 and a take profit at 0,7250.
- Add a stop-loss at 0,7050.
The
AUD/USD price held steady on Wednesday morning as investors reflect on the last minutes of the Reserve Bank of Australia (RBA) as well as reacting to rising Covid-19 cases in the United States and Australia.
It is trading at 0,7140, just above last Friday's low of 0,7082.
You may also be interested in: