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[QUOTE="Antony_NPBFX, post: 197692, member: 38727"] [size=5][b]AUD/USD: the instrument is consolidating at local highs 23.07.2021 [/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 shows ambiguous dynamics of trading against USD during the Asian session, consolidating near the local highs and the level of 0.7400. The instrument is supported by the weak positions of USD, which is under pressure from the disappointing macroeconomic statistics from the US on jobless claims. At the same time, the further growth of the pair is hindered by the data from Australia, released today. Commonwealth Bank Services PMI in July fell sharply from 56.8 to 44.2 points, which turned out to be worse than the forecasts. Commonwealth Bank Manufacturing PMI also fell from 58.6 to 56.8 points. In turn, the Composite PMI in July fell from 56.7 to 45.2 points. [b] Support and resistance [/b] Bollinger Bands in D1 chart demonstrate a moderate decrease. The price range is narrowing from below, reflecting the instrument's attempt to reverse the downtrend in the short term. MACD indicator is growing preserving a weak buy signal (located above the signal line). Stochastic shows a slightly more confident uptrend, signaling in favor of the development of the "bullish" trend in the ultra-short term. Technical indicators do not contradict the further development of the full-scale uptrend in the short and/or ultra-short term. Resistance levels: 0.7400, 0.7443, 0.7475, 0.7500. Support levels: 0.7338, 0.7300, 0.7265. [img]http://businesspr-finance.com/wp-content/uploads/2021/07/AUDUSD230721-33.png[/img] [img]http://businesspr-finance.com/wp-content/uploads/2021/07/AUDUSD230721-333.png[/img] [b] Trading tips [/b] To open long positions, one can rely on the breakout of 0.7400. Take-profit – 0.7500. Stop-loss – 0.7350. Implementation time: 2-3 days. The return of a "bearish" trend with the breakdown of 0.7338 may become a signal for new sales with the target at 0.7265. Stop-loss – 0.7375. [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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