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Krecioch

AUD/USD: Bulls Take Control in Short Term

Australian Dollar / U.S. Dollar (OANDA:AUDUSD)  
Krecioch  
OANDA:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Chart Patterns Beyond Technical Analysis AUDUSD Bullish Patterns tariffs US-CHINA Relative Strength Index (RSI)
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trendanalysis chartpattern beyondta audusd bullish tariffs us-china relativestrengthindex
Technically bullish - currently overbought, AUD/USD should make a break above 0.70000 price level after some slight consolidation/ pullback.

  • US-China Trade developments will continue to take the spotlight for AUD pairs in 2020; With Phase 1 Deal to be signed sometime in January, (which includes Tariff reductions) AU bulls should temporarily take control..and then we move into Phase 2 of 3..
  • RBA expected to cut cash rate at their February meeting in order to further support growth for small businesses in particular.
  • FED expected to stay on hold.

  • Support levels: 0.6940 0.6900 0.6865
    Resistance levels: 0.7000 0.7035 0.7070

*Trade at you own risk off of your own analysis ;)
-Krecioch
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