FX.co ★ Technical Analysis of Daily Price Movement of AUD/USD Commodity Currency Pairs , Monday March 25, 2024.

If we look at the 4 hour chart of the AUD/USD commodity currency pair, although it seems that it is still dominated by Sellers, this is indicated by its price movement moving below WMA 30 Shift 2 and the emergence of a Bearish 123 pattern which is followed by several Bearish Ross Hook (RH) but in fact is currently moving in a ranging Sideways condition where this is confirmed by the WMA moving on the body of the bar chart and coupled with confirmation of hidden deviations between AUD/USD price movements and the Stochastic Oscillator indicator, then in the near future AUD/USD has the potential to be corrected from its weakening bias to strengthening up to the 0.6580 level and as long as this strengthening correction does not breaks above the 0.6638 level then in fact AUD/USD will still weaken again down to below the 0.6507 level and if the momentum and volatility are strong enough then it is not impossible that it will continue to weaken down to the 0.6486 and 0.6405 levels.

(Disclaimer)