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AUD/USD Signal - USD Redbook Index - 9 Mar 2021

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Signal Details
Entry Price: 
0.7653
Take Profit: 
0.7530
Stop Loss: 
0.7750
Direction: 
Sell
How we trade
Average: 5 (1 vote)

AUDUSD is trending to the downside today prior to the USD Redbook Index data, which is a sales-weighted of year-over-year same-store sales growth in a sample of large US merchandise retailers, representing around 9.000 stores. Technically the pair is below the 1h moving average ribbon and the 0.7700 pivot level, and we anticipate continued downside on the AUDUSD.

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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.