Technical Analysis of Daily Price Movement of AUD/USD Commodity Currency Pairs, Monday August 07 2023.
August 7, 2023 7:23 am
On the daily chart of the AUD/USD Commodity currency pair, a deviation appears between price movements and the CCI Histogram indicator which is also stuck at level 0, indicating that the AUD/USD upward movement is being halted by resistance and the presence of a Bearish 123 pattern followed by a Bearish Ross Hook ( RH) plus the price movement is below WMA 20 which all indicates that as long as there is no significant upward rally, especially if it manages to break above the 0.6824 level, AUD/USD in the next few days has the potential to weaken down to the 0.6460 level.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
On the daily chart of the AUD/USD Commodity currency pair, a deviation appears between price movements and the CCI Histogram indicator which is also stuck at level 0, indicating that the AUD/USD upward movement is being halted by resistance and the presence of a Bearish 123 pattern followed by a Bearish Ross Hook ( RH) plus the price movement is below WMA 20 which all indicates that as long as there is no significant upward rally, especially if it manages to break above the 0.6824 level, AUD/USD in the next few days has the potential to weaken down to the 0.6460 level.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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