12.08.202407:07 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of AUD/USD Commodity Currency Pairs, Monday August 12, 2024.

Relevance up to 22:00 2024-08-12 UTC--4

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

With the appearance of deviations between the price movement of the AUD/USD currency pair and the Stochastic Oscillator indicator, it gives an indication that in the near future AUD/USD has the potential to weaken, especially with the addition of confirmation of the appearance of the Rising Wedge pattern, which further strengthens the potential for weakening that will occur where as long as there is no strengthening that penetrates above the level of 0.6608, AUD/USD will try to test and breaks below the level of 0.6500. If this level is successfully broken below, the level of 0.6475 will be the next target to be aimed for.

(Disclaimer)

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.