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FX.co ★ AUD/USD - Strong downside pressure and potential for bigger drop

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Forex Analysis:::2021-11-04T13:09:08

AUD/USD - Strong downside pressure and potential for bigger drop

Technical analysis:

AUD/USD - Strong downside pressure and potential for bigger drop

AUD/USD has been trading downside and we got bearish outside bar on the market.

Trading recommendation:

Watch for selling opportunities on the rallies due to strong downside momentum.

Downside targets are set at the price of 0,7380 and 0,7325

Stochastic is showing-bear cross and strong downside condition, which is confirmation for further bearish movement.

Resistance is set at the price of 0,7470

Analyst InstaForex
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