- Analytics
- News and Tools
- Market News
- AUD/USD Price Analysis: Bears grind towards key 4-hour support
AUD/USD Price Analysis: Bears grind towards key 4-hour support
- AUD/USD bears are eyeing a trest of key trendline support.
- Bulls have started to throw in the towel.
AUDUSD remains offered following Friday's sell-off and in what could be the start of a significant correction. The bulls have been capped below 0.6900 and the bears are trying to take on dynamic trendline support and the prior highs of June 14 in what has been a 38.2% Fibonacci retracement of the 4-hour bullish impulse as the following charts illustrate:
AUD/USD daily chart
The pair are meeting resistance and bears eye support structures.
AUD/USD H4 chart
Bears are approaching support and will need to overcome the trendline support as shown on the 4-hour chart.
© 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
