For a while we have observed that against the backdrop of the trade war between the United States and China the Australian dollar's rate declined relative to the reserve currency. At the moment the increase in oil prices has played to the benefit of the Australian currency.
Now the price is pressed to the upper border of the Bollinger Bands and demonstrates positive dynamics. The Stochastic and MACD are also directed upwards and we believe that this trend has the potential to continue, so the pair may soon exceed the 0.72 mark.
Therefore, we advise you to look for points to enter long positions, taking into account the fixation of the price above this level and the potential of the pair to reach the mark of 0.7245.
