FX.co ★ NexusTrader | AUD/USD

AUDUSD Intraday Analysis: Decoding the pricing of the AUD/USD currency pair is the main topic of our discussion. The hourly chart indicates a shift from an upward to a downward trend as the price rebounds from the 0.71668 level, signaling the possibility of selling. Selling signals emerge as the AO histogram exits the positive territory and moves towards the negative zone while the RSI oscillator line turns bearish. The critical calculation relies on the price falling below the 0.71758 level, revealing the stop losses of buyers at risk with concealed risks from long positions. Although no sales conditions in the AUD/USD pair indicate continued growth, Friday's breach resulted in a return to the four-hour range below the 0.71428 level. However, more is likely for transactions. Transitioning to the sales zone on an hourly scale requires closing below the 0.71088 level. Therefore, the expected scenario is a drop from the current 0.71158 prices to the 0.71088 level, followed by an accelerated fall towards the support at 0.70128.

Analytical work becomes crucial for predicting future movements in the unpredictable AUD/USD currency pair. This morning, the currency pair reached the 0.71668 target, initiating a rollback and allowing the formation of divergence in the Marlin oscillator. The possibility of a downward correction, stemming from the growth since November 10th or the entire movement from October 26th to December 4th, is evident. The initial target for such a correction is the 0.70858 level, with consolidation below paving the way to the support level of 0.69878. The RBA's monetary policy decision is expected tomorrow, with the current rate expected to remain at 4.35%, while accompanying documents may provide a strong reversal signal.