FX.co ★ AUD/USD

The Australian dollar continues to lose ground against the backdrop of deteriorating global market conditions. Despite the Reserve Bank of Australia's decisive actions to maintain high interest rates, the currency is not finding support as investors prefer to avoid risky investments. The strengthening of the US dollar and decreased interest in stocks are further weighing on the AUDUSD pair, signaling overall caution and anticipation of a possible market correction. Considering that yesterday's impulsive daily candle closed below the 1/2 range of 0.6525-0.6516, we can talk about confirming the bearish trend. This event confirms the dominance of sellers in the market and indicates that the next target for decline could be the full margin zone, located within 0.6430-0.6411. I am considering the possibility of opening a short position in the range of 0.6505-0.6525, provided a reversal pattern forms.