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AUD/USD Signal - Westpac Leading Index - 16 Feb 2021

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Signal Details
Entry Price: 
0.77701
Take Profit: 
0.78200
Stop Loss: 
0.77450
Direction: 
Buy
How we trade
Average: 3 (2 votes)

AUD/USD is trading to the upside today prior to Westpac Leading Index. The Westpac Leading Index released by the Melbourne Institute tracks nine gauges of economic activity, including share prices and telephone installations, to provide an indication of how the economy will perform. It tends to have an impact on the AUD volatility. Technically the pair is trading above the 50 moving average, and we anticipate further upside on the AUD/USD into the 0.78200 level.

Submitted by Toni H. on Tue, 16 Feb 2021 01:29:27 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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