AUDUSD is currently trading near the downward sloping trend line suggesting limited upside potential; RSI is declining supporting the above observation. The pair is also making a potential double top near current levels suggesting it could decline in the near term. It would be prudent to say that silver could decline towards 0.7710 and 0.7675 while it sustains below 0.7810.
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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.