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AUDUSD stays in one piece after flash crash
AUDUSD encountered a significant drop to a nine-month low of 0.6346 on Monday, marking its worst daily performance since the pandemic, but it quickly found fresh buying near the trendline, which connects the 2022 and 2023 lows, and managed to recover most of its losses by the end of the day. The Reserve Bank of Australia (RBA) provided a helping hand to the pair on Tuesday after it played down any hopes for a rate cut soon, boosting the price as high as 0.6539. However, the pair could not sustain its gains, returning below the 0.6500 number again and beneath the falling constraining line from January which has been ... (full story)
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- Posted: Aug 6, 2024 6:53am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 2,829
