AUD/USD

May 5, 2022

We expect a bearish trend in the Australian dollar exchange rate against the US dollar, and the price is now stabilizing around the level of 0.7200. The downside wave for the pair continues when the level of 0.7150 is breached. As a first target, the target loss is stopped at the level of 0.7250, then we target the level of 0.7100 as a second target
Support: 0.7150
Pivot point: 0.7200
Resistance: 0.7250
The direction of the pair: descending by trading 0.7200, then 0.7150, and the stop loss is 0.7250

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