AUDUSD has once again tested the key resistance zone around 0.65400, which appears to be a significant level of rejection.
This recent movement may be attributed to low trading volume for the current month, profit-taking, or minor currency injections, which have triggered temporary price spikes.
Although the overall price action is still uncertain, technical indicators suggest a high probability of further downside in the coming days. If bearish pressure continues, the pair could decline towards the support zones at 0.64500 and potentially even 0.64005.
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This recent movement may be attributed to low trading volume for the current month, profit-taking, or minor currency injections, which have triggered temporary price spikes.
Although the overall price action is still uncertain, technical indicators suggest a high probability of further downside in the coming days. If bearish pressure continues, the pair could decline towards the support zones at 0.64500 and potentially even 0.64005.
If You Like this idea if you have on Opinion about this analysis Thanks for Supporting.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.