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20.05.2022 11:45 AMAUD/USD is trying to recover on the back of growing demand for risky assets and news from China about the decision of the central bank to reduce a key lending benchmark. The decrease in US Treasury yields also put pressure on the dollar, pushing the pair to further growth.
technical picture:
The quote is currently above the middle line of the Bollinger indicator, above the SMA 5 and SMA 14. The relative strength index (RSI) is also above 50% and indicates a possible rebound, while the stochastic indicator is still on the decline.
Possible dynamics:
A rise and consolidation above 0.7065 is likely to lead to a local increase to 0.7165.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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