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forexTrdr AUDUSD- LETS MOVE HIGHER ON CHINA OPTIMISM

FX:AUDUSD   Australian Dollar / U.S. Dollar
Morning traders,

Lots of activity overnight with US central bank meeting and CNBC reporting that US and China trade deal may be announced next week helping Aussie dollar find support overnight after collapsing lower post US Fed meeting where they stepped back from the idea of an interest rate cut. On the back of the meeting Aussie Dollar fell from 0.7056 down to 0.7008 from where it found support to slowly trend higher overnight.

We are looking to see a move higher in Aussie dollar from this area after a series of higher lows from last weeks 0.6988 level. Additionally as per our trading view chart the pair has also found support on Marchs low. On top of this price action and the recent trend of trading from 0.70 up to 0.72 area we can look to RSI and Stochastic analysis where in both we can see a turn up from oversold levels.

As always we try to keep our analysis clean and easy for anyone to be able to follow but should you want to learn more then please do get in touch.

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Good luck trading

from the Team at forexTrdr



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Trade active: After NFP great time to re enter and get back in to it.

Pair failed to reach the overnight lows on the back of a big US employment number.
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