Hello traders, Prospects of the currency pair AUD/USD based on technical analysis. The foundation of the trading strategy includes support and resistance levels, RSI, and AO indicators. Let's take a look at the chart:
We honestly attempted a descent, but then changed our minds and even broke through the trendline, which I was counting on for a bounce. However, there is still more ahead, and for now, I expect a small corrective decline. The pair slightly dropped but did not reach the target and reversed. Let's see what the next few days hold based on technical analysis. On the chart, it is evident that the pair tested the level of 0.6560 and is currently trading at a price of 0.6553. RSI is moving in the middle of the range, looking uncertainly downwards, AO is showing a weak selling signal, and the price of the AUD/USD pair is above the trading range of the previous day. The signals are not very strong, but there is a possibility of a slight decrease. I anticipate a movement towards the support level of 0.6530. Based on the analysis, cautious selling is recommended from the current prices until the level of 0.6535. However, remember that the market can be subject to sudden changes, so evaluate your risks carefully.
