Chart of the Day AUD/USD

Blake Morrow Forex Analytix

The AUD/USD has had a major v-shape recovery in price as the pair finally found some resistance at the Dec 2019 highs ahead of the FOMC tomorrow. The daily RSI is working off the overbought conditions, but while we trade above the trend line at the .6800 level (approximately) then the risk is for a move higher, but a move below the .6800 level could start a well needed pullback.

Author

Blake Morrow

Forex Analytix

Blake Morrow spent most of his professional career as the Chief Currency Strategist for Wizetrade group for 15 years, and then the Senior Currency Strategist for Ally Financial after the acquisition of Tradeking which owned the Wizetrade Group.

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