Philippines
2020-04-02 18:58
Market analysisAUD/USD May Rally to 0.65
Related product:
Others,Others,Others,Stock,Others,Others
Market analysis:
While we expect AUD/USD to return to the higher range of 0.65, the question is when that will happen.
The Aussie dollar will presumably rebound with strong momentum once the global pandemic is effectively contained, and it’s estimated that the pair will reach 0.63 before the end of this year, up 150 pips from the current level. The market will continue to be volatile for a while, but not for long.
As China is Australia’s largest trade partner, the recovery speed of China’s economy will critically affect how fast AUD will rally. Being the second largest economy in the world, China is seeing an eventual revival of its economy, which is also a positive factor for the Aussie dollar. In a long-term perspective, the current price of AUD is still comparatively low.
AUD/USD daily pivot points: 0.6083---0.6111
S1 0.6008 R1 0.6154
S2 0.5950 R2 0.6242
FX8377062442
Trader
Hot content
Industry
Event-A comment a day,Keep rewards worthy up to$27
Industry
Nigeria Event Giveaway-Win₦5000 Mobilephone Credit
Industry
Nigeria Event Giveaway-Win ₦2500 MobilePhoneCredit
Industry
South Africa Event-Come&Win 240ZAR Phone Credit
Industry
Nigeria Event-Discuss Forex&Win2500NGN PhoneCredit
Industry
[Nigeria Event]Discuss&win 2500 Naira Phone Credit
Forum category
Platform
Exhibition
Agent
Recruitment
EA
Industry
Market
Index
AUD/USD May Rally to 0.65
Philippines | 2020-04-02 18:58
While we expect AUD/USD to return to the higher range of 0.65, the question is when that will happen.
The Aussie dollar will presumably rebound with strong momentum once the global pandemic is effectively contained, and it’s estimated that the pair will reach 0.63 before the end of this year, up 150 pips from the current level. The market will continue to be volatile for a while, but not for long.
As China is Australia’s largest trade partner, the recovery speed of China’s economy will critically affect how fast AUD will rally. Being the second largest economy in the world, China is seeing an eventual revival of its economy, which is also a positive factor for the Aussie dollar. In a long-term perspective, the current price of AUD is still comparatively low.
AUD/USD daily pivot points: 0.6083---0.6111
S1 0.6008 R1 0.6154
S2 0.5950 R2 0.6242
Others
Others
Others
Stock
Others
Others
Like 0
I want to comment, too
Submit
0Comments
There is no comment yet. Make the first one.
Submit
There is no comment yet. Make the first one.