AUD/USD Recovery Could Gain Momentum Above 0.6770

Key Highlights AUD/USD started an upside correction after trading to a new 2020 low at 0.6663.There was a break above a crucial bearish trend line with resistance near 0.6725 on the 4-hours chart.The US CPI could increase 2.4% in Jan 2020 (YoY), up from the last 2.3%.The US Initial Jobless Claims for the week ending Feb 08, 2020 could rise from 202K to 210K. AUD/USD Tech...
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AUD/USD Bulls Facing Uphill Task

Key Highlights In the past few days, AUD/USD declined heavily and tested the 0.6850 support.A lot of hurdles are forming for the bulls near 0.6900 and 0.6930 on the 4-hours chart.Both EUR/USD and GBP/USD started a decent recovery in the past few sessions.The US Existing Home Sales could increase 1.2% in Dec 2019 (MoM). AUD/USD Technical Analysis AUD/USD struggled to s...
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AUD/USD Showing Signs of Further Upside

Key Highlights AUD/USD started a strong recovery from the 0.6754 low.There was a break above a crucial bearish trend line at 0.6775 on the 4-hours chart.The US ISM Manufacturing Index declined from 48.3 to 48.1 in Nov 2019.The Reserve Bank of Australia (RBA) kept rates at 0.75% and refrained from hinting any future rate cuts. AUD/USD Technical Analysis After a strong ...
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AUD/USD Correcting Gains But Remains Supported

Key Highlights The Aussie Dollar surged recently towards 0.6900 against the US Dollar.AUD/USD is correcting gains, but it is likely to find a strong support near 0.6800.Australia’s monthly trade balance was a deficit of $1,242M, down from $-1,628M.The US Manufacturing PMI could decline from 51.1 to 50.7 in Oct 2019 (Preliminary). AUD/USD Technical Analysis In the la...
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AUD/USD Recovery Above 0.6780 Won’t Be Easy

Key Highlights The Aussie Dollar started an upside correction from the 0.6670 low against the US Dollar. AUD/USD surpassed a major bearish trend line at 0.6735 on the 4-hours chart.The US Wholesale Inventories increased 0.2% in August 2019, less than the +0.4% forecast. The US CPI might increase 0.1% in Sep 2019 (MoM), similar to the last reading. AUD/USD Technical Analy...
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AUD/USD Tumbles To New Multi-Year Low

Key Highlights The Aussie Dollar traded to a new multi-year low against the US Dollar. AUD/USD is now facing resistance near 0.6730 and a bearish trend line on the 4-hours chart.The Reserve Bank of Australia reduced the interest rate from 1.0% to 0.75%.The US ISM Manufacturing Index declined from 49.1 to 47.8 in Sep 2019. AUD/USD Technical Analysis This month, there w...
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AUD/USD Trimming Gains, Can It Bounce Back?

Key Highlights The Aussie Dollar topped near 0.6895 and declined recently against the US Dollar. AUD/USD broke an ascending channel with support near 0.6870 on the 4-hours chart.Australia’s Employment changed 34.7K in August 2019, less than the last revised 36.4K.The Unemployment rate increased from 5.2% to 5.3% in August 2019. AUD/USD Technical Analysis Earlier thi...
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AUD/USD Could Recover Sharply If It Breaks 0.6820

Key Highlights Recently, the Aussie Dollar corrected higher from 0.6676 (multi-year low) against the US Dollar. AUD/USD traded above a key bearish trend line at 0.6780 on the 4-hours chart.EUR/USD and GBP/USD remain in a bearish zone below key resistances.The US Existing Home Sales is likely to increase 2.5% in July 2019 (MoM). AUD/USD Technical Analysis Earlier this ...
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AUD/USD in Slow and Steady Uptrend

Key Highlights The Aussie Dollar moved higher this past week and broke the 0.8000 resistance against the US Dollar. There is a crucial ascending channel forming with current support at 0.8060 on the 4-hours chart of AUD/USD. The pair may continue to rise as long as it is above the 0.8000 support level. The US Personal Income rose 0.4% in Dec 2017, more than the fo...
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