Aussie stays near significant support

Despite the fact that the RBA pointed to a slowdown in the rate of economic mitigation, the AUD/USD pair remains in a downtrend and retains its potential for decline. The psychological support of 0.7000 continues to be a significant support for this pair. Fixing the price below this mark will indicate the potential for a further decline in the Australian dollar against the US dollar.

The entry points to sell AUD/USD are worth looking for, when fixing below 0.7000, in the range of 0.6990-70.

Resistance levels are located at 0.7020 and 0.7040. Goals and support levels are located at 0.6940 and 0.6900.

Read also: “How long will last  the US trade war  against all?”

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

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