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11.09.201915:15 Forex Analysis & Reviews: Technical analysis of AUD/USD for September 11, 2019

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 11.09.2019 analysis

Overview:

A daily closure above 0.6830 allows the AUD/USD pair to make a quick bullish movement towards the next resistance level around 0.6876.

The bias remains bullish in nearest term testing 0.6923 – 0.6988. Immediate resistance is seen around 0.6876.

The bullish outlook remains the same, as long as the 100 and 50 EMAs are pointing to the upside.

We still anticipate the bullish trend for the upcoming sessions as long as the price is above 0.6830-0.6800 levels

In this area, the trend is challenging a major resistance level. The ascending impulse is strong enough to buy above the support of 0.6830-0.6800 levels.

Therefore, the price is expected to reach a high once again. It is rather gainful to buy at 0.6830 with the targets at 0.6923 – 0.6988. So, it is recommended to place take profit at the price of 0.6988 as the second target today.

On the contrary, traders should watch for any signs of bearish rejection that occur around 0.6830. The stop loss should be placed at the price of 0.6800 (below the daily support).

Mourad El Keddani
Analytical expert of InstaForex
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