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06.05.202006:21 Forex Analysis & Reviews: AUD/USD Price Movement For May 06, 2020

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 06.05.2020 analysis

AUD/USD is now trying to reach the SELL Stop Liquidity Pool at 0.6374. If this level can be easily broken out, then this pair will have a high probability to continue the downward movement to 0.6338 as the first target and 0.6284 as the second target as long as the price does not rebound higher than the 0.6477 level.

The overall bias of AUD/USD is bearish.

(Disclaimer)

Arief Makmur
Analytical expert of InstaForex
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