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[QUOTE="Antony_NPBFX, post: 195916, member: 38727"] [size=5][b]AUD/USD: flat trading 31.05.2021 [/b][/size] Good afternoon, dear forum visitors! [url=https://www.tb.marketinstructor.com/?referer1=earnforex.com] NPBFX[/url] offers the latest release of analytics on AUD/USD for a better understanding of the current market situation and more efficient trading. [b] Current trend [/b] AUD has shown moderate gains against USD during the Asian session, trying to recover from a decline late last week that led to renewed local lows since May 4. Moderate support for the instrument is provided by macroeconomic statistics from Australia and China. Private Sector Credit in Australia in April showed an increase of 0.2% MoM after increasing by 0.4% MoM in March. In annual terms, credit growth rates increased from +1.0% YoY to +1.3% YoY. The Chinese data showed a solid growth in the Non-Manufacturing PMI. In May, the indicator increased from 54.9 to 55.2 points, while analysts expected it to decline to 52.7 points. NBS Manufacturing PMI, in turn, slightly decreased from 51.1 to 51.0 points in May, while experts did not expect any changes at all. Investors are now awaiting the Reserve Bank of Australia's interest rate decision with a follow-up press conference on Tuesday. [b] Support and resistance [/b] In the D1 chart, Bollinger Bands are reversing horizontally. The price range practically does not change, limiting short-term "bears" in further development. MACD is declining keeping a weak sell signal (located below the signal line). Stochastic shows an unstable oscillatory dynamics approximately at the center of its area, pointing to the balance of power in the ultra-short term. Resistance levels: 0.7750, 0.7770, 0.7800, 0.7816. Support levels: 0.7700, 0.7676, 0.7636, 0.7600. [img]http://businesspr-finance.com/wp-content/uploads/2021/05/AUDUSD310521-33.png[/img] [img]http://businesspr-finance.com/wp-content/uploads/2021/05/AUDUSD310521-333.png[/img] [b] Trading tips [/b] To open long positions, one can rely on a confident breakout of 0.7750. Take-profit – 0.7800–0.7816. Stop-loss – 0.7715. Implementation time: 1-2 days. The return of "bearish" trend with the breakdown of 0.7700 may become a signal for new sales with the target at 0.7600. Stop-loss – 0.7750. [b]Use more opportunities of the NPBFX analytical portal: glossary[/b] Beginning traders certainly face a lot of specialized concepts and lexicon on FOREX, which are often not fully been understood. Swap, tick, hedge, margin calls are often unfamiliar to beginning traders. But the lack of knowledge of these fundamentals make a competent market vision impossible. So glossary on the NPBFX analytical portal could be an excellent helper in this case, which contains all the main definitions with explanations in a compact and accessible form. All concepts are arranged in alphabetical order, so that you can easily and quickly find and explore a new concept for yourself. If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist. Use the current recommendations of analysts on AUD/USD and trade efficiently with [url=https://my.npbfx.com/register/?utm_campaign=register&utm_medium=forumpost&utm_source=earnforex.com]NPBFX[/url]. [/QUOTE]
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