Good afternoon, dear traders. I present to your attention a trading recommendation for the AUD/USD currency pair.
Today, an explosive day for the US dollar is expected, as the market expects the publication of unemployment data in the US, including in the non-agricultural sector. As for the Australian dollar itself, this week it lowered the interest rate by 0.25%, and against this background, it was possible to observe a culminating collapse with the breakdown of annual lows, because six months ago, the Central Bank of Australia assured that it would never lower rates.
Now, after the breakdown of the annual extremum at 0.6678, I expect, if not a reversal, then at least a good pullback with an update to the level of 0.6782. This level will be broken sooner or later, and even if today's news will be strong for the dollar, it will only slow down the working out. Why exactly the level of 0.6782? The thing is that this level is extremely important for late sellers who, after reducing the % rate, took short positions and believe in its endless decline. As a result, I expect at least a false breakdown of the level of 0.6782, which can happen even today if the news is weak.
I wish you all success in trading and big profits!
