AUD/USD is correcting higher near term and has reached its accelerated downtrend at .6641. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, recommends being cautious. Key quotes “The recent low of .6433 was accompanied by a divergence of the daily RSI. The market is overstretched and we have 13 counts on the daily, weekly and monthly charts and this implies that we are at the end stage of a longer-term down move, together with divergence, so extreme caution is warranted.” “The market will have to overcome the accelerated downtrend at .6641 and the October low at .6671 on a closing basis to alleviate immediate downside pressure and target the 200-day ma at .6836.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next ECB held special coronavirus call and without discussing monetary policy – EUR/USD positive FX Street 2 years AUD/USD is correcting higher near term and has reached its accelerated downtrend at .6641. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, recommends being cautious. Key quotes “The recent low of .6433 was accompanied by a divergence of the daily RSI. The market is overstretched and we have 13 counts on the daily, weekly and monthly charts and this implies that we are at the end stage of a longer-term down move, together with divergence, so extreme caution is warranted.” “The market will have to overcome the accelerated downtrend at .6641 and the October low at .6671 on… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
