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Last week AUD/USD managed to take off from the 0.6760 area. Then it consolidated between 0.6855 and 0.6810. On the downside, the 100- and 50-day MAs support the pair. These lines made a positive intersection. Daily oscillators are moving higher. This means that the Aussie has potential to test the long-term downtrend resistance line in the 0.6880 area.
On the H4, we can see that the consolidation is taking form of a symmetric triangle. A false break to the upside took place on Friday before the pair stabilized at the 200-period MA (0.6830). Beware the volatility related to the US-China trade war.
The trading strategy is either to look for buy patterns in the 0.6810/20 area or to sell on the break below 0.6810 targeting 0.6770. The advance to the 0.6880 area may be a reason to look for sell opportunities.
On the H4, we can see that EUR/USD has found a temporary bottom in the 1.0770 area. The pair is now trading above the former short-term resistance line going down from March highs (1.0835).
How does the GBP/USD look like?
USD/JPY has declined from 111.70 and went into consolidation around 107.50.
AUD looks stronger, RBA keeps the rate steady. How positive is the picture?
On the H4, we can see that EUR/USD has found a temporary bottom in the 1.0770 area. The pair is now trading above the former short-term resistance line going down from March highs (1.0835).
The USD/CAD price has been falling down since March 19. What are the reasons?
