Economic growth rates, government bond yields and the Fed’s restrained position in relation to growth in government bond yields support the , putting pressure on competing currencies.
Further improvement of the economic situation in the United States will lead to further strengthening of the dollar. The decline in is likely to continue to the support levels of 0.7510, 0.7410. A breakdown of the support level of 0.7285 will finally return AUD/USD to a long-term downtrend.
In an alternative scenario, the first signal to resume long positions will be a breakdown of the resistance level of 0.7647.
Support levels: 0.7570, 0.7510, 0.7410, 0.7300, 0.7285
Resistance levels: 0.7620, 0.7647, 0.7704, 0.7850, 0.7980, 0.8000, 0.8160
Sell Stop 0.7580. Stop-Loss 0.7670. Take-Profit 0.7510, 0.7410, 0.7300, 0.7285
Buy Stop 0.7670. Stop-Loss 0.7580. Take-Profit 0.7704, 0.7850, 0.7980, 0.8000, 0.8160
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