Baxia Markets
July 23, 2021

AUDUSD may spike again

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The price of AUDUSD has been falling for 52 days. During these 52 days, the price has dropped by 7%, which was a crush; This is the longest trend since the beginning of the year 2021. During the trend, we can see that the price has tested the bottom Bollinger Bands three times; however, the first two did not create strong support. Now, we have the third one coming; and as can be seen, the price has already started to bounce up. 





How far will the upward trend go? The price has just started to go up, so it has not even touched the 23.6% level Fibonacci, which means it still has room to go. We cannot see things from standard deviation because the price already passed the support point, so the standard deviation started to go down. MACD still shows the bearish signal; however, the signal is not significant. The bear's power goes up, but still in a negative area. I know we do not have enough signals for now. Let’s wait to see if the price touches the 23.6% level Fibonacci.


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