AUD/USD

May 6, 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 0.7090. The downside wave for the pair continues when the level of 0.7040 is breached. As a first target, the target loss is stopped at the level of 0.7150, then we target the level of 0.7000 as a second target
Support: 0.7040
Pivot point: 0.7050
Resistance: 0.7150
The direction of the pair: descending by trading 0.7100 then 0.7040 and the stop loss is 0.7150

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