AUD/USD Daily Technical Analysis | 9 February 2018
2018-02-09 08:55 am | Resource: Technical Analysis Section | No Views : 311
Our neutral view of the pair until the break or break through the bearish trend and the simple moving average 20 is a bearish sign.
The RSI 14 is trading in a sideways direction since yesterday morning as a result of the weakness of both sellers and buyers.
It is expected that if the pair breaks against the US currency 0.7758 might target levels of 0.7784, while in case of breach of the pair level of 0.7808 may target the level of 0.7935.
Support: 0.7817- 0.7784 - 0.7739
Resistance: 0.7889 - 0.7968- 0.8034
The dollar traded lower against the currencies as traders were also wary of looking for riskier assets awaiting developments on the trade front. The Fed cut its target overnight rate by a quarter percentage point on Wednesday, to a level of 1.75% to 2.0%, to offset slowing global growth and the risks partly associated with President Donald Trump's trade battles with China. This was the second Fed rate cut this…
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