AUDUSD Daily Outlook - The violence and frustration continue in the US and as the country gets even more divided than before, Trump said he would deploy thousands of armed soldiers and military personnel to Washington, D.C. On Monday we also found out that the US construction spending fell 2.9% in April with residential building down sharply. A sharp downturn in the UK manufacturing continued in May, but Australia’s Performance of Manufacturing index was up in May.
On Tuesday the big economic events are Australia’s Rate decision and GDP growth rate.
Welcome to the Tickmill update, I’m Kiana Danial the founder of the Invest Diva movement. Make sure to subscribe to the Tickmill YouTube channel and support us by liking and sharing this video with your forex trading friends.
Today I’m looking at the AUD/USD pair which broke above the final resistance level from before the Coronavirus downfalls and appears to be in good shape to reach the highs of January 2020 in the medium term.
With the risk evens on the calendar, however, we could see a temporary pullback towards 0.67 and 0.65 before further gains. These levels could be considered an entry point for bullish traders.
Have you jumped on the AUD/USD uptrend? Head over to the comments section and let me know.
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