Technical Analysis of Daily Price Movement AUD/USD Commodity Currency Pairs, Wednesday August 30 2023.
August 30, 2023 5:23 am
From the daily chart of the AUD/USD commodity currency pair, you can see the appearance of a pattern of irregularities between price movements and the CCI Histogram indicator, especially after successfully sweeping liquidity at the level of 0.6461, AUD/USD has the opportunity to rally again up again to test the bearish Fair Value Gap area level (Pink). If this level is successfully broken then AUD/USD will continue its strengthening rally up to the level of 0.6718-0.6786 but if on its way to these target levels AUD/USD suddenly reverses downwards until it breaks below the 0.6405 level then all the strengthening rally scenario previously described will become invalid and automatically cancel.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
From the daily chart of the AUD/USD commodity currency pair, you can see the appearance of a pattern of irregularities between price movements and the CCI Histogram indicator, especially after successfully sweeping liquidity at the level of 0.6461, AUD/USD has the opportunity to rally again up again to test the bearish Fair Value Gap area level (Pink). If this level is successfully broken then AUD/USD will continue its strengthening rally up to the level of 0.6718-0.6786 but if on its way to these target levels AUD/USD suddenly reverses downwards until it breaks below the 0.6405 level then all the strengthening rally scenario previously described will become invalid and automatically cancel.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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