Audusd: No breakthrough is going on
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Hello traders!
The Australian dollar (AUD) traded positively on Tuesday, extending its gains for the second consecutive day. The AUD/USD pair received a boost as the US dollar (USD) adjusted, possibly due to a decrease in the US Treasury bond yields.
However, on the AUD analysis chart, there is still no sign of breaking out of the trend, and the price continues to narrow while the downward trend persists. Additionally, the price is still trading around the operating zone of the EMA 34 and 89, indicating a preference for subdued trading within the range of 0.637 - 0.628, along with sideways movement for now.
The Australian dollar (AUD) traded positively on Tuesday, extending its gains for the second consecutive day. The AUD/USD pair received a boost as the US dollar (USD) adjusted, possibly due to a decrease in the US Treasury bond yields.
However, on the AUD analysis chart, there is still no sign of breaking out of the trend, and the price continues to narrow while the downward trend persists. Additionally, the price is still trading around the operating zone of the EMA 34 and 89, indicating a preference for subdued trading within the range of 0.637 - 0.628, along with sideways movement for now.
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