FX.co ★ Cookiess | AUD/USD

AUDUSD 4-Hour Analysis: The analysis of the price changes of the AUD/USD currency pair will be the main focus of our conversation. The 4-hour trade chart shows that the bears are in control and are continuously driving the price down. The downward trend is further confirmed by the AUD/USD pair, which is gathering bearish momentum and trading below the Ichimoku cloud. In the most recent session, the price closed below the pivot level, indicating persistent selling pressure. The pair is currently trading around 0.71264, and the stochastic indicator supports selling as well. Testing the support at the traditional pivot levels is the immediate goal. A break below the first support level might lead to a further decrease, bringing the price below 0.70597. The decline is expected to continue from the current levels. The resistance level at 0.72709 will be a crucial reference point in the present trading range if bullish traders take back control. The AUD/USD pair hasn't yet fallen below the 67th figure or hit any new lows. But things are beginning to change in the market. There were indications of a potential reversal of the previous bearish trend in yesterday's price movement. The pair has also surpassed recent local highs, and I anticipate at least a minor retracement in the direction of 0.71378. However, the US dollar's performance the next week will be critical in deciding the course of events. At these levels, I'm reluctant to sell, but if the price falls below 0.70938, I might think about purchasing. The AUD/USD pair saw an increase on Friday. The hourly chart's technical indicators are still optimistic, with the MACD heading upward and in positive territory. With the bulls aiming for the 0.72272 level, I anticipate that this upward trend will continue into Monday.