AUD/USD is near a strong resistance

The AUD/USD pair received a significant support thanks to the general weakness of the US dollar, accelerating the growth on the correction after the decline, but maintaining a three-week downward channel. At the same time, the growth of risks that is putting pressure on the US dollar, also puts pressure on raw materials, on which the Australian dollar depends largely.

Technically, resumption of the pair’s decline can be expected for the formation of a reversal from the resistance levels: 0.6750 and 0.6770.

Sales should be considered on fixing below the zone: 0.6730-10

This will open the way to support levels: 0.6670 and 0.6650.

Read also: “Cryptocurrency market. What is happening now and what to expect”

Hanzenko Anton

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

Topical articles of the trader’s blog:

1. What indicators choose Forex traders (Part 2)
2. Stock indices are ready to renew a historical high
3. What indicators choose Forex traders (Part 1)

Current Investment ideas:

1. Several reasons to buy Cisco Systems, Inc. shares in October. Let’s earn Together!
2. Technology giant Microsoft is getting ready to storm new highs! Let’s make money on it!