xN1CMx
N1CM Representative
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AUDUSD Technical Analysis, Apr 6th, 2023
Recent US data releases paved the way for decreases in the dollar index and bond yields. However, the following recovery since yesterday in the dollar index is pulling AUDUSD down. There is no significant data to follow today, markets will be closed tomorrow. Therefore, we do not foresee any drastic action with this pair.
Technically, 0.6670 support is a critical threshold. So long as it holds above this level, which happens to be our rising trend support, we can see an uptrend again. If 0.6720 is crossed above, the uptrends will continue in favor of the Aussie. If the 0.6670 support is broken below, there is a potential for the bears to pull the pair towards 0.6570 main support zone.
For more daily technical analysis on Gold, FX pairs and Indices, join us on our Telegram channel here.
Recent US data releases paved the way for decreases in the dollar index and bond yields. However, the following recovery since yesterday in the dollar index is pulling AUDUSD down. There is no significant data to follow today, markets will be closed tomorrow. Therefore, we do not foresee any drastic action with this pair.
Technically, 0.6670 support is a critical threshold. So long as it holds above this level, which happens to be our rising trend support, we can see an uptrend again. If 0.6720 is crossed above, the uptrends will continue in favor of the Aussie. If the 0.6670 support is broken below, there is a potential for the bears to pull the pair towards 0.6570 main support zone.
For more daily technical analysis on Gold, FX pairs and Indices, join us on our Telegram channel here.