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Thread: AUD/USD renews multi-year lows, closes in on 0.6300 (SELL AUD/USD)

  1. #41 Collapse Post
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    AUDUSD has kind of stabilized around this region of 0.73. Now that the US elections are over and Australian internal borders are set to reopen within the next month, it will be interesting to watch both currencies as I expect both of them to rise up. Will be interesting to see where it heads next as it has been struggling to go above this region for quite some time.

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    Quote Originally Posted by Earie     
    AUDUSD has kind of stabilized around this region of 0.73. Now that the US elections are over and Australian internal borders are set to reopen within the next month, it will be interesting to watch both currencies as I expect both of them to rise up. Will be interesting to see where it heads next as it has been struggling to go above this region for quite some time.
    I am of the opinion that the year's end is near and we might see it shoot up further closer to 0.78 level or so. It will be a massive move given the fact it went all the way down to 0.55 in March this year. Something like a 40-50% increase in a matter of 9 months if it happens. I haven't seen any other major currency have such huge swing moves within a matter of a few months.

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    Today, AUDUSD fell below 0.73 after quite some time. I think this is just a small correction due to the negative COVID news from Adelaide and some trade concerns with China. I think it will soon recover in the coming days and will then be strongly bullish till the end of the year. I think we might see a rise of a few hundred pips by year's end.

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