AUD/USD

May 9, 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 0.7000. The downside wave for the pair continues when the level of 0.6950 is breached. As a first target, the target loss is stopped at the level of 0.7050, then we target the level of 0.6900 as a second target
Support: 0.6950
Pivot point: 0.7000
Resistance: 0.7050
The direction of the pair: descending by trading 0.7000, then 0.6950, and the stop loss is 0.7050

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