07.01.202506:57 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of AUD/USD Commodity Currency Pairs, Tuesday January 07, 2025.

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If we look at the 4-hour chart of the AUD/USD commodity currency pair, we can see several interesting things, namely, first, the appearance of a Bullish 123 pattern followed by a Bullish Ross Hook (RH), second, the emergence of a deviation between the price movement of this commodity currency pair and the Awesome Oscillator indicator, and third, the price movement of AUD/USD moves harmoniously within the Bullish Pitchfork channel where after successfully testing the upper Line of the Bullish Pitchfork channel, AUD/USD is now being corrected and has successfully tested and broken below its mid-level line and now AUD/USD is heading towards the Lower Line of the Bullish Pitchfork channel as long as the weakening correction does not penetrate below the Lower Line and/or below the level of 0.6198, then AUD/USD is still in a strengthening condition where this commodity currency pair will try to go to the level of 0.6305 as its main goal and if the volatility and momentum of its strengthening support it, then 0.6403 will be the next target to be aimed for.

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