AUDUSD has been in a medium term uptrend as evident from the daily and the weekly chart, albeit it has witnessed near term organic correction since the last week of February. Currently the pair stands at the multiple support zone suggesting buying could be witnessed near current levels, short term base could be formed and a rise could unfold from this support zone. It is likely that AUDUSD could rebound towards 0.7700 and 0.7730 while it sustains above 0.7605.
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Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.