FX.co ★ AUD/USD

T E C H N I C A L _ A N A L Y S I S A U D / U S D Hello, Fellow traders, it is my pleasure to greet you and wish you the best of luck in your future endeavors. AUD/USD is trading at 0.6501 at the time of writing. It's possible that AUD/USD will now lose strength. Because the US dollar has now once again increased and is now at 107.47. If you check this time frame of AUD/USD , you can easily find a strong bearish trend towards the 0.5580 level . For the AUD/USD pair, technical indicators point to a possible downward movement. Currently, The Relative Strength Index (RSI) indicator is consistently indicating downward movement. At the same time, the moving average convergence divergence (MACD) indicator is trending downward. Now, the indicator trades below the midline, which suggests it is strengthening downward. The AUD/USD 's continuous trading below the 50-EMA and 20-EMA, with prices at $0.6666 and $0.6859, respectively, support the AUD/USD sellers .

On the upside, the following resistance levels would be $0.7081, $0.8007, and $0.9474. A firm break above this barrier would open the door for long-term buyers . In a different scenario, the $0.6296, $0.5580, and $0.4576 would serve as the support. AUD/USD is testing the 0.6296 level of support right now. If you check this time frame, you can easily find that AUD/USD is testing the 0.6296 level of support . I expect that the market price of AUD/USD will pull back and test the 0.7081 area . We can trade in a safe environment without a high-impact news effect now. The indicators used in the chart: MACD indicator: RSI indicator period 14: 50-day exponential moving average color Orange: 20-day exponential moving average color Magenta: