09.07.202406:27 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of AUD/USD Commodity Currency Pairs, Tuesday July 09, 2024.

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.

If we look at the 4-hour chart of the AUD.USD commodity currency pair, we can see a deviation between the AUD/USD price movement which forms a Higher High while the MACD Histogram forms a Higher Low plus the Short GMMA (blue EMA) which represents Traders has started to intersect even though it hasn't yet. completely intersect but based on these facts, in the near future AUD/USD has the potential to be corrected weakening where the Count Back Line (CBL) level @ 0.6721 will try to be tested in the near future. If this level is successfully broken, then AUD/USD can be sure to continue the correction the weakening will reach the level of 0.6690, but all of these weakening scenarios will become invalid and cancel themselves if during the correction the weakening suddenly returns to its original bias (strengthening) where AUD/USD manages to broken above the level of 0.6764.

(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.