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CMS Daily Market Report 31st August 2022

 

The euro continued its corrective movement on Tuesday and is now in the 1.00400 range. Now, according to the price position in the 4-hour chart, there is a possibility of continuing the corrective movement towards the range of the resistance trend line and the level of 1.01125, which is an opportunity to sell.

The Australian dollar rose to the 0.69562 range on Tuesday but ended the day down 0.68% to close at the 0.68538 range as sellers pressured the range . Currently, the currency pair has formed a Wedge pattern in the 4-hour chart, and the possible price reaction to the levels of 0.68500 and 0.69250 will determine the next direction of the Australian dollar.

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