Forex Signal For AUD/USD: No End to Aussie Dollar's Plunge
Forex Signal For AUD/USD: No End to Aussie Dollar's Plunge
The Federal Reserve has made several rate hikes this year and has hinted that it will continue to do so in the coming months.
Bear Market Outlook
- Sell the AUD/USD pair and take a profit at 0,6300.
- Add a stop-loss at 0,6525.
- Timetable: 1-2 days.
Forex Signal For AUD/USD: No End to Aussie Dollar's Plunge
Bull Market Outlook
- Set a buy stop at 0,6520 and a take profit at 0,6600.
- Add a stop-loss at 0,6400.
As concerns over the Australian and Chinese economies persist, the AUD/USD price continued its downward trend and fell to 0,6420, its lowest level since 2020.
The pair has fallen more than 11% this year.
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