Coming Soon

AUD/USD runs out of gas & heading to the pits at 0.7196

July 30, 2020 by Mario Soto

The Australian dollar came up trumps against the greenback after some serious profit taking disallowed the Aussie to break past 0.72. The COVID-19 pandemic has not helped the situation and it showed in the poor import and export figures for Q2. After several days of misery the USD is making its comeback. Pushing back against the Aussie and bringing the EUR/USD  down past 1.1750. However don’t rule it out of the race yet as it shoots past the new found resistance at 1.1750. With not much positive data coming out of Europe except some better unemployment figures in Germany, one has to wonder if yet again COVID is playing its part. With the situation in the US only worsening, Europe seems to be stabilizing. It’s a long race folks so so get comfortable and enjoy the ride.   AUD/USD Key levels For the Bulls consider an initial target at 0.7196 with a break above that consider 0.7205 For the Bears 0.7132 and a break bellow consider 0.7110   EUR/USD Key levels For the Bulls consider an initial target at 1.1780 with a break above that consider 1.1806 For the Bears 1.17 followed by 1.1625

Interested in expanding your knowledge about our services

Interested in expanding your knowledge about our services

Whether you’re just getting started or looking to sharpen your skills, our eBooks are designed to help you dive straight in to the world of forex trading. Learn everything from basic to more advanced techniques and much more. Simply fill out the form below to get access to your FREE ebook Now!