AUD/USD Signal - AUD RBA Commodity Index - 4 Jan 2021

Signal Details

Entry Price:

0.7700

Take Profit:

0.7760

Stop Loss:

0.7680

Direction:

Buy

Result:

Loss

How we trade

AUDUSD is trending to the upside and has now given us a pullback opportunity to get into the market before the RBA announces commodity index data. The data is considered as an early indicator of export price changes. The price changes influence GDP and exchange rates. An increase in prices may indicate strength of the AUD, while a decrease in prices may indicate weakness of the AUD. Technically the pair has held above the 0.7695 level and we anticipate further upside.

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Submitted by Toni H. on Mon, 04 Jan 2021 05:11:52 GMT

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Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion. All risks and coasts associated with online trading are your responsibility.

AUD/USD Signal - AUD RBA Commodity Index - 4 Jan 2021

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