Currency Pair: AUDUSD
Timeframe: H1
Date/Time of Signal: 24th February 2020 / 1400hrs (SGT)

Review:

As China, Australia’s largest trading partner, struggles to contain the coronavirus and the rapid spread of the coronavirus beyond China drove fears of a pandemic. This have drove investors to safe haven currency such as US dollar and weaken the Australian dollar as Australia is a major exporter of commodities.

AUDUSD has been on a downtrend and has broken through the Support level of 0.6670.

Following the trend, trade signaled to Sell AUDUSD (Entry: 0.6598) with 3 Take Profit (TP) Targets (TP1: 0.6578, TP2: 0.6558, TP3: 0.6538) and Stop Loss (SL) at 0.6628.
AUDUSDForexforexsignalstechnicaltrendTrend Analysis

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