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Technical Analysis
AUD/USD Analysis
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[QUOTE="Hot Forex Signals, post: 182509, member: 65779"] [B]AUD/USD pair value Analysis: Aussie keeps gains once the PBOC rate call[/B] [LIST] [*]AUD/USD's currency pair recovery rally continues as S&P five hundred futures flip positive. [*]The PBOC unbroken key interest rates unchanged, of course. [*]Technical charts maintain bearish bias despite AUD's bounce. [/LIST] The Aussie greenback, a proxy for China, remains bid following the People's Bank of China's (PBOC) status quo rate call. The financial organization unbroken the annual and five-year loan prime rates unchanged at 3.85% and 4.65%, severally. The bank was expected to keep up rates unchanged and has didn't have a notable impact on the Aussie greenback. The AUD/USD currency pair is forex trading at session highs close to 0.6845, having a place in a very low of 0.6807 in early Asia. The currency pair had gapped lower, following the decline within the S&P five hundred futures. The stock futures fell because the U.S. and European nations witnessed a quicker increase within the range of coronavirus cases over the weekend and Australia reimposed coronavirus restrictions in its second-most thickly settled state. The U.S. stock futures, however, erased losses and are news a 0.35% gain at press time. The turnaround possible helped the AUD bounce from the session low of 0.6807 to 0.6845. However, from a technical analysis position, the currency pair must move higher than the lower high of 0.6976 created on June sixteen to revive the immediate bullish read. The five and 10-day easy moving averages have created a bearish crossover and will supply stiff resistance. The SMAs are presently settled at 0.6861 and 0.6890, severally. A reversal lower from the short SMAs would usher in deeper declines to the 200-day SMA, presently at 0.6662. [/QUOTE]
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