AUDUSD
The pair is correcting downwards amid profit taking and the hopes that the US and China will reach a compromise. We believe that the possibility of such an outcome is quite low, hence the pair may continue falling.
The price is lower than the middle Bollinger band, higher than SMA 5 but lower than SMA 14. RSI signals a weakening of the upward movement. Stoch are still rising.
Trading recommendations:
We believe the pair should be sold while it is rising from 0.7300 with the target level of 0.7240 and considering the possible fall to 0.7195.