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FX.co ★ torp.paris | AUD/USD

AUD/USD

Let's analyze the currency pair AUD/USD using technical analysis. The main focus will be on the levels of weekly pivot support and resistance, the basement indicator, and the indicator forming the 1-2-3 pattern. We will concentrate all attention on the chart.

AUD/USD

On June 19, the Vertex indicator during the European trading session signaled that the currency pair was oversold, after which an increase in quotes began. Such a signal from the indicator can be considered confirming, especially with divergence, which strengthens it. The moving averages with periods of 200 and 50 show a confident downtrend, contrary to the signals of other indicators. Buyers were able to form the 1-2-3 pattern, indicating their intention to reverse quotes upwards. Buyers also managed to confirm the 1-2-3 pattern by breaking the level of 0.70239, demonstrating their strength. In this situation, I will wait for both moving averages to be broken upwards by candles, showing weakness in sellers. Then I will wait for the price to pull back to the weekly pivot expansion support level at 0.69910, where it will be possible to average the purchase.
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