AUDUSD recovers and tests 0.72900 on new Australian Leadership
Yesterday we have updated our AUDUSD forecast and road map. AUDUSD broke below 0.72500 however picked up a bid after Scott Morrison won the leadership vote to become the new Australian Prime Minister.
The pair tested 0.72900 resistance but failed to break above.
We will focus on 0.72900 resistance. If the pair breaks above 0.72900, 0.73200 and 0.73400 will be the next targets of the pair. If it fails to break out, the bearish move will continue. We may get a better idea after London’s opening.
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AUDUSD Forecast: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility