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AUD / USD analysis and forecast from April 20, 2021_AUD / USD: investors are buying the Australian dollar

AUD / USD overview from April 20, 2021


AUD / USD continues its upward movement and at the time of writing this review is quoted at 0.7790.

The Reserve Bank of Australia held a monetary policy meeting today and announced the continuation of the current exchange rate without any adjustments. The target interest rate is 0.1%. The volume of the asset purchase program is $ 100 billion over 5-10 years at the rate of $ 5 billion a week.

The US dollar index continues to decline and reached the level of 90.940, although the Treasury yield per day increased from 1.54% to 1.62%.

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Technical Analysis AUD / USD

According to the Daily chart, we do not exclude the formation of a head and shoulders pattern. At the moment, the right shoulder is being built. The Alligator’s averages are spreading upward, the awesome oscillator has moved into the positive area.

audusd_daily
audusd_daily

In case of continued growth and consolidation above 0.7864, the head-shoulders pattern is canceled and long positions with a take profit at 0.8000 become relevant. Set the stop loss at 0.7780.

The beginning of the pattern development will be indicated by a decline with the price fixing below 0.7700. From here we form sells with a take profit of 0.7562. Stop loss is set at 0.7760.

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