audusd analysis on dated 16-8-2022

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The USD continues to be one of the most traded currencies in the world, and the AUD is no different. Despite the current economic conditions, the AUD continues to be a reliable and consistent performer.

 

Some analysts believe that the AUD is undervalued and is due for a rebound in the near future. The USD continues to be one of the most traded currencies in the world, and the AUD is no different.

 

Despite the current economic conditions, the AUD continues to be a reliable and consistent performer. Some analysts believe that the AUD is undervalued and is due for a rebound in the near future.

 

audusd currency pair is limited time bullish. The following intructions should be measure when we make a trade by today-

  • We are trading at oversold extremes
  • A higher correction is expected
  • This is positive for sentiment and the uptrend has potential to return
  • The hourly chart technicals suggests further downside before the uptrend returns
  • Preferred trade is to buy on dips

Recommendations: Buy/Buy limit @ 0.70000  Target: 0.71000/0.71500