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AUD/USD Signal - AUD Trade Balance - 26 Oct 2020

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Signal Details
Entry Price: 
0.7132
Take Profit: 
0.7170
Stop Loss: 
0.7100
Direction: 
Buy
Result: 
Loss
How we trade
Average: 5 (1 vote)

AUD/USD is trading to the upside today after AUD Trade Balance. The trade balance released by the Australian Bureau of Statistics is the difference in the value of its imports and exports of Australian goods. Export data can give an important reflection of Australian growth, while imports provide an indication of domestic demand. Technically the pair is trading above the 50 moving average, and we anticipate further upside on the AUD/USD into the 0.7170 level.

Submitted by Toni H. on Mon, 26 Oct 2020 00:39:46 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.

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