AUDUSD stays in the trading range between 0.8642 and 0.8898.
The price action in the range is likely consolidation of the downtrend from 0.9401.
As long as 0.8898 resistance holds, the downtrend could be expected to resume, and another fall to 0.8400 area is possible.
Editor’s Note: Equity investors/traders can use the Currency Shares Australian Dollar Trust (FXA, quote) ETF to take positions in the Aussie dollar without a FOREX account. The ETF looks to track the price of the Aussie dollar (AUDUSD), minus ETF fee. The fund seeks to reflect the price of the Aussie dollar (AUDUSD) with the shares representing a cost-effective investment relative to investing in the FOREX market.
Content curiosity of FOREXCycle
You must be logged in to post a comment.