- Analytics
- News and Tools
- Market News
- AUDUSD Price Analysis: Bears eye a breakout to the downside for the opening sessions
AUDUSD Price Analysis: Bears eye a breakout to the downside for the opening sessions
- AUDUSD's weekly rejection has been in play with 0.6500 eyed.
- Bears seek a break below 0.6670 and 0.6650 for the opening sessions.
AUDUSD was pressured at the end of last week with the US Dollar gaining slightly making its largest weekly gain in over a month as investors eye rising bond yields as they continued to make bets on the US Federal Reserve's interest rate hiking path. This puts the downside in focus on the charts as follows:
AUDUSD H1 chart
The hourly M-formation is compelling and argues for a downside continuation having already corrected into the bearish impulse and resistance.
AUDUSD H4 chart
The same can be said for the 4-hour chart with the price being rejected from resistance.
AUDUSD daily chart
The daily chart's support area beckons while the price is on the front side of the downside trend.
AUDUSD weekly chart
The weekly rejection has also been in play with 0.6500 eyed.
© 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.
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.
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
