FX.co - AUD/USD Update for August 30, 2021 - Major resistance on the test and potential for the drop towards 0.7230

2021-08-30T12:09:16

Relevance until2021-08-31

Technical analysis:

AUD/USD Update for August 30, 2021 - Major resistance on the test and potential for the drop towards 0.7230

AUD/USD has been trading upside last Friday but I see potential for the downside movement due to buying climax in the background.

Trading recommendation:

Watch for selling opportunities with the potential downside target at the price of 0,7230

Stochastic is showing overbought condition intraday and potential for the downside rotation.

Resistance is set at the price of 0,7320

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ AUD/USD Update for August 30, 2021 - Major resistance on the test and potential for the drop towards 0.7230