AUDUSD Daily Outlook 28-07-20 – On Monday Gold hit a record high and we found out that the U.S. Durable Goods Orders Extended a Substantial Rebound in June.
Welcome to the Tickmill update, I’m Kiana Danial the founder of the Invest Diva movement. Make sure to subscribe to the Tickmill YouTube channel and support us by liking and sharing this video with your forex trading friends.
On Tuesday we’ll be eyeing the CB consumer Confidence as well as Australia’s inflation rate.
Today I’m looking at the AUD/USD pair that was able to break above the key resistance level of 0.70 last week as the USD selloff continued. The pair has also broken above the Ichimoku Cloud on the weekly chart for the first time since February 2018, adding to our bullish view. The next resistance levels are set at 0.72 and 0.74 respectively for the medium term, while long term the pair could reach 0.79 if the USD weakness continues.
Do you think the Aussie is headed towards brighter days? Head over to the comments section and let me know.
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