Australian dollar continues to decline – analysis-13-02-2019

in analysis •  3 months ago 

The Australian dollar pair against the US dollar presented additional negative trades yesterday and settles around 0.7075 now, and is under constant negative pressure coming from the 50 moving average, which supports the expectation of a downward trend in the instantaneous term, where our next target is at 0.7000.

Persistence without 0.7185 is important for the continuation of the proposed downward wave, breaking 0.7000 will pay the price about 0.6930 directly.

The range of trading expected for the day between 0.7000 support and 0.7120 resistance

Projected general inclination of the day: falling

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