Market news
21.09.2022, 00:22

AUD/USD Price Analysis: Bears stay in control at daily resistance

  • AUD/USD is trapped in familiar ranges on the lower timeframes.
  • Bears are lurking an eye a downside daily extension. 

As per the prior analysis, AUD/USD Price Analysis: Bearish bias persists as bears take control at key daily support, and AUD/USD Price Analysis: Bulls look to 0.6750 but bears are lurking, where it was stated that AUD/USD showed no sign of correcting on a longer-term time frame basis, threatening a break of key support, the price has indeed been rejected by resistance and the focus stays with the downside. 

AUD/USD prior analysis

AUD/USD update

The resistance has held and a downside extension is on the cards for the days ahead. However, we have some meanwhile consolidation occurring on the lower timeframes as the following hourly chart shows:

The W-formation is a reversion pattern that would be expected to draw in the price before it breaks upside resistance. This is leaving the shorter-term outlook stuck in a range as markets get set for the Federal Reserve.

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location