FX.co ★ AUD/USd analysis for 03.11.2020 - Bear flag pattern completed, watch for selling opportutniies with the first target at 0.6460

Technical analysis:

AUD/USD has been trading upwards most recently. Anyway, I see potential for the downside continuation and eventual test of 0.6460 and 0.6315. There is the potential end of the upward correction and completed bear flag on the 1H time-frame...

The zone around the 0.6520 seems like a nice short zone. Watch for selling opportunists with the downward targets at the price of 0.6460 and 0.6315.

Stochastic oscillator is showing the overbought condition, which is good sign that buyers got "too long" and that sellers might be attracted...

Resistance at the price of 0.6543 is very important pivot.

Support levels and downward targets are set at the price of 0.6460 and 0.6315.