The AUDUSD failed to rebound from the weakness of the USD, partly due to conservative growth expectations from China, Australia's largest trading partner, which dragged down the Aussie. Additionally, the Reserve Bank of Australia's (RBA) latest interest rate decision, which released a less hawkish and even slightly dovish stance, also weighed on the Aussie. Under these two negative factors, the AUDUSD accelerated its decline and is currently trading below the level of 0.6700.
Looking at the daily chart, the market is still in a downtrend and is approaching the key support level of 0.6580, which is also the previous low point. If the support test is effective, the downtrend may successfully stop and lead to a good upward trend.
Personal trading recommendation: Enter a long position with a small amount at the level of 0.6580-0.6600, with the first target at 0.6800 and the second target at 0.7000.
I have in-depth research on futures products such as cryptocurrencies, foreign exchange, stocks, gold, and crude oil, and I also update some daily trading strategies. Thank you for your attention and likes, and if you have any questions, please feel free to leave me a message. I will provide the most reliable advice to help you.
Giao dịch đang hoạt động:
effective support
Giao dịch đang hoạt động