Forex Signal For AUD/USD: In Favorable Environment for a Downward Breakout to 0,6200
Forex Signal For AUD/USD: In Favorable Environment for a Downward Breakout to 0,6200
The
Australian dollar remains under pressure as the market awaits the Labor government's first budget.
Bear Market Outlook
- Sell the AUD/USD pair and take a profit at 0,6200.
- Add a stop-loss at 0,6365.
- Timeline: 1 day.
Forex Signal For AUD/USD: In Favorable Environment for a Downward Breakout to 0,6200
Bull Market Outlook
- Set a buy stop at 0,6325 and a take profit at 0,6450.
- Add a stop-loss at 0,6250.
The AUD/USD price fell slightly ahead of the upcoming government budget following Xi Jinping's new appointment, while it fell to 0,6297, just below last week's high of 0,6400.
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