AUDUSD has not been able to get out of the discount trend
Hello dear friends!
Today, AUDUSD has not been able to end its downward trend as it touched the weekly low at 0.632. As a result, the escalating political tensions in the Middle East will continue to drive capital flow into safe haven assets, which is disadvantageous for risk currencies like the Australian Dollar (AUD), causing its value to decrease.
From the technical analysis chart:
After forming a double top at 0.689 and breaking out at 0.670, AUDUSD has consistently encountered obstacles. Currently, a bearish trend is forming and the price range is gradually narrowing. It is expected to have a slight price increase this week before breaking the range at 0.624 and continuing to decline further.
What about you? Do you agree with this opinion or not? Please comment and share your thoughts!
Today, AUDUSD has not been able to end its downward trend as it touched the weekly low at 0.632. As a result, the escalating political tensions in the Middle East will continue to drive capital flow into safe haven assets, which is disadvantageous for risk currencies like the Australian Dollar (AUD), causing its value to decrease.
From the technical analysis chart:
After forming a double top at 0.689 and breaking out at 0.670, AUDUSD has consistently encountered obstacles. Currently, a bearish trend is forming and the price range is gradually narrowing. It is expected to have a slight price increase this week before breaking the range at 0.624 and continuing to decline further.
What about you? Do you agree with this opinion or not? Please comment and share your thoughts!
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