FX.co ★ AUD/USD analysis for November 02, 2018

Recently, the AUD/USD pair has been trading upwards. The price tested the level of 0.7258. Anyway, according to the M15 time – frame, I found the buying climax (wide spread bar in a ultra-high volume) in the background, which is a sign that buying looks risky. I have also found that up-thrust bar and the hidden bearish divergence on the MACD oscillator, which is another sign of weakness. My advice is to watch for selling opportunities. The downward target is set at the price of 0.7200. The breakout of 0.7229 would confirm a further downward movement.

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