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Technical Analysis
Video | Market Technical | Solid ECN
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[QUOTE="SOLIDECN, post: 210989, member: 80239"] [HEADING=1][JUSTIFY]AUDUSD - Upward correction in the asset[/JUSTIFY][/HEADING] [JUSTIFY]At the recent Australian Strategic Business Forum – Melbourne, the head of the Bank of Australia, Philip Lowe, announced a preliminary forecast that inflation in the country would accelerate, and new anti-records may be reflected in the quarterly report, after which another peak in consumer prices will probably have to at the end of the year. Analysts suggest that in the second quarter, the figure will increase from the current 5.1% to 6.3% against the continued decline in key sectors of the economy. Thus, in June, Manufacturing PMI fell to 55.7 points from 56.2 points, and Service PMI – to 50.4 points from 52.6 points a month earlier. In his speech, the head of the financial department also said that the neutral key rate at the current inflation rate should be at least 2.5%, while now it consolidates at 1.35%. Faster labor productivity growth will likely be a catalyst for the higher value. [url=https://ibb.co/vYsv0Nd][img]https://i.ibb.co/FVsqRQY/audusd.png[/img][/url] The price remains inside the Expanding formation pattern on the global chart, rising within the local trend. Technical indicators signal the presence of an upward correction: fast EMAs on the Alligator indicator have almost reached the signal line, and the AO oscillator histogram has approached the transition level. [B]Support levels[/B]: 0.6855, 0.671 | [B]Resistance levels[/B]: 0.6978, 0.712[/JUSTIFY] [/QUOTE]
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