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Bitcoin may just be on its way past the $10,000 price mark following an upward run as indicator shows no strong resistance. Meanwhile, the Chinese upbeat trade data failed to rescue AUD/USD from losses as the pair continues to try the 0.6700 support. Forex Broker comparison service FXBrokerFeed brings you the latest news updates and comments in the FX Broker Market, featuring Bitcoin cruise to $10,000 and AUD/USD losses.
Bitcoin Bullish Run: Price likely to exceed $10,000
FXBrokerFeed reports that Bitcoin has been experiencing a bullish run this week. The BTC/USD pair moved up from the $8,325.16 price mark to $9,782.30 on Thursday.
There are indications that nothing is stopping the pair from crossing the predicted $10,000. FXBrokerFeed gathered that the upward run will continue, following revelations from the daily confluence indicator that there is no serious resistance in sight.
Instead, there is a significant support at the $9,580 price zone, which was a previous week high and month high, and one-day pivot point.
Meanwhile, here is what CME Group CEO, Terry Duffy, says about Bitcoin: “We’re seeing more and more people participate in Bitcoin…I think it’s more of safe haven, similar to a gold trade.”
AUD/USD Likely to Break the 0.6700 Support
The bearish run of the AUD/USD continued this week, with the price attempting to break the 0.6700 support area on several occasions.
Many traders expected a market reversal after the release of the upbeat trade data from China. FXBrokerFeed can confirm that the statement from the RBA Governor, Philip Lowe, during the Asian session suggested that interest rate shouldn’t be negative. The Governor tried to allay fears of coronavirus with the rosy economy.
However, the GDP growth forecast lowered due to the statement on monetary policy (SoMP) credited the Aussie central bank later on in the session.
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