FX.co ★ Nicos | AUD/USD

AUDUSD 4-Hour Analysis: After figuring out a corrective rollback, the pair has started figuring out a new trend wave on the daily chart. Given that this level corresponds with the 261st level of the corridor, which the couple started to work out, the pair should most likely soon reach the support level of 0.68092. The pair has already broken through the Ichimoku cloud and is heading to level 161 on the four-hour chart. A rebound from level 161 is likely to occur. However, there are no indications that the process of creating a new southern route has begun. As things stand, it's still hard to say for sure, but I really doubt the couple will make it all the way north. Right now, the AUD/USD pair is trading sideways between 0.69802 and 0.71472. The pair ended Friday's trading session with a negative lead around support at 0.69802. I agree that the downturn will continue on Monday. With the start of trade, I anticipate a rise to the level of 0.69802. Given the strength of the support, a comeback is then conceivable. There were many twists and halt in the movements from this point. However, given the pair proceeded to a close retest after a little gain within this channel, I also do not rule out a breakthrough of this level. Since both bulls and bears may often take the initiative, I will generally watch how the price behaves tomorrow. Tomorrow, I'll aim to capture purchases that go from support to resistance.