Forex Signal For AUD/USD: Rising Wedge Points for Retracement.
Forex Signal For AUD/USD: Rising Wedge Points for Retracement.
As the squeeze approaches the convergence zone, the pair is likely to break lower.
Bear Market View
- Sell-stop at 0,7340 and take profit at 0,7250.
- Add a stop-loss at 0,7400.
- Timetable: 1-2 days.
Forex Signal For AUD/USD: Rising Wedge Points for Retracement.
Bull Market Outlook
- Set a buy-stop at 0,7380 and a take profit at 0,7450.
- Add a stop-loss of 0,7300.
The
AUD/USD price held steady as investors were pricing in a strong economic recovery for the Australian economy, with the pair rising to 0,7385, about 2,65% above the September low.
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