FX.co ★ torp.paris | AUD/USD

Hello traders, AUD/USD H1

On Friday, the currency pair AUD/USD showed a decent decline, and by breaking through the southern starting line at 0.6977, sellers confirmed the seriousness of their intentions. If the breakout of this level proves to be true, the Australian dollar's exchange rate will continue to decline towards the upper boundary of the first impulse zone at 0.6905. Additionally, strengthened by the volume accumulation level at (POC) 0.6915, bears may not let the price go down immediately below it. In case quotes return above the starting line at 0.6977, they will begin a corrective growth towards resistances at POC 0.7000\0.7030, potentially followed by new attempts to push the price down. Therefore, on hourly timeframes, the picture for this pair looks more bearish, and a possible return of quotes to the zone of 0.7000\0.7030 could be used as an entry point for new short positions, but this is not a trading recommendation.