Forex Signal For AUD/USD: Overbought Aussie Dollar.
Forex Signal For AUD/USD: Overbought Aussie Dollar.
According to the National Bureau of Statistics (NBS), the AUD/USD price rose after relatively weak Chinese economic data; In October, retail sales fell by 0.5%, industrial production by 5.0% and fixed asset investment by 5,8%.
Bear Market Outlook
- Sell AUD/USD and take profit at 0,6700.
- Add a stop-loss at 0,6900.
- Timetable: 1-2 days.
Forex Signal For AUD/USD: Overbought Aussie Dollar.
Bull Market Outlook
- Set buy stop at 0,6820 and take profit at 0,6920.
- Add a stop-loss at 0,6725.
The AUD/USD price rally rose to 0,6793, its highest level since September, after another set of positive US inflation data and talks between Xi Jinping and Anthony Albanese.
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