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AUD/USD Signal - USD Consumer Confidence - 30 June 2020

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Signal Details
Entry Price: 
0.6876
Take Profit: 
0.6905
Stop Loss: 
0.6850
Direction: 
Buy
How we trade
Average: 5 (1 vote)

AUD/USD is pressing to the upside today prior to USD consumer confidence data. Consumer Confidence data captures the confidence that individuals have in the economic activity in the US. A high reading is typically bullish for the USD, and a low reading is typically bearish. With AUDUSD currently trading aroung 0.6876 we anticipate further upside into the 0.6905 pivot. Additionally, price has broken to the upside of the 1HR 50EMA.

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.