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July 2018

Technical analysis 11.07.18

AUDUSD

The pair is trading above 0.7400 under the pressure of the escalating trade war between the US and China. Due to this the commodity assets are also under pressure which negatively affects the rates of commodity currencies.

The price is below the middle Bollinger band, below SMA 5, but still above SMA 14. RSI is below the level of 50% and is indicating slower decline. Stoch are entering the oversold zone.

Trading recommendations:

If the price passes 0.7400, it may go further down to 0.7335.

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