FX.co ★ AUD/USD Update for October 28, 2022 - Breakout of the rising trendline

Technical analysis:

AUD/USD has been trading downside after the breakout of the rising trend-line and triangle pattern in the background, there is chance for further downside movement.

Trading recommendation:

Due to the breakout of the rising trend-line and triangle pattern in the background, I see potential for further drop towards downside references.

Watch for selling opportunities on the intraday rallies with the downside objectives at 0.6412, 0.6300 and 0.6215.

MACD oscillator is showing downside reading, which is sign that sellers are taking control.

Key resistance is set at the price of 0.6505