AUD/USD Forex Technical Analysis – Weakens Under .7350, Strengthens Over .7379

0 2
The Australian Dollar is under pressure for a third session on Wednesday after a wave of global risk aversion and a surge in U.S. Treasury yields boosted its U.S. counterpart.Traders are still responding to Tuesday’s decision by the Reserve Bank of Australia (RBA) to stick with plans to trim its bond buying to A$4 billion a week, but also extend that out to February as a nod to coronavirus uncertainties.At 08:52 GMT, the AUD/USD is trading .7362, down 0.0026 or -0.35%.While the RBA Board conceded that the economic recovery from current Delta lockdowns would likely be drawn out, it also predicted a very strong pick up over all of 2022.Daily AUD/USDDaily Swing Chart Technical AnalysisThe main trend is up according to the daily swing chart. A trade through .7478 will signal a resumption of the uptrend. A move through .7222 will change the main trend to down.Early Wednesday, the AUD/USD is trading on the weak side of a long-term retracement zone at .7379 to .7499, making it resi
Subscribe or log in to read the rest of this content.
Leave A Reply

Your email address will not be published.

At The Centre of Every Trade
$59.95/month