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Atirox.com - Daily Analysis
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[QUOTE="andy.atx, post: 180915, member: 58758"] [SIZE=7][B]AUD/USD: TECHNICAL ANALYSIS 13.05.20[/B][/SIZE] [URL='https://atirox.com/wp-content/uploads/AUDUSDH413052020.png'][IMG]https://atirox.com/wp-content/uploads/AUDUSDH413052020.png[/IMG][/URL] [B]Current trend[/B] On the 4-hour chart, the price has tested the support level of 0.64500 and was slightly corrected upwards, but the general downward trend maintains. The breakdown of the 0.64500 will let the price re-test the 0.64392-0.64313 support area. The lower border of this channel seems strong support, which can activate an upward reverse of the price. Meanwhile, its breakdown could trigger a pair’s active decline to the area of 0.64087 level. [B]Alternative scenario[/B] If the "bulls" manage to raise the rate above the level of 0.64789, the correction can continue to the area of 0.65002 resistance, which coincided with the middle line of Bollinger Bands. This level can prevent the instrument from growing, as the possibility of the reverse of the price is high there. However, its breakout will let the price re-test the yesterday high surrounding 0.65355 resistance. [B]Technical indicators[/B] Technical indicators maintain a sell signal. Bollinger Bands are diverging on the background of bearish momentum. MACD volumes are decreasing in the positive zone. Stochastic is pointed downwards. [B]Support and resistance[/B] Support levels: 0.64697, 0.64500, 0.64392, 0.64087. Resistance levels: 0.64790, 0.65002, 0.65355, 0.65613. [B]Trading recommendations[/B] Short positions can be opened below the level of 0.64392 with the target at around 0.64087 and stop-loss at 0.64493. Long positions can be opened above the level of 0.65000 with the target at around 0.65300 and stop-loss at 0.64900. [/QUOTE]
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