Technical Analysis of Daily Price Movement of AUD/USD Commodity Currency Pairs, Thursday October 05, 2023
October 5, 2023 5:22 am
If we look at the daily chart of AUD/USD commodity currency pairs, there is the Seller who seems dominates this commodity currency pairs, where this thing confirmed by the price position below the Kumo, Tenkan Sen which below the Kijun Sen (Death Cross) and Chikou Span below the Kumo and below the price. However, with the Chikou Span slope which dives upwards gives the clue that if on a few days ahead, AUD/USD has the potential to corrected above but as long as the upward correction doesn’t break above the level 0,6495, then AUD/USD still has the potential to continue its weakness up to the level 0,6289 as the initial target and 0,6197 as the next target.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
If we look at the daily chart of AUD/USD commodity currency pairs, there is the Seller who seems dominates this commodity currency pairs, where this thing confirmed by the price position below the Kumo, Tenkan Sen which below the Kijun Sen (Death Cross) and Chikou Span below the Kumo and below the price. However, with the Chikou Span slope which dives upwards gives the clue that if on a few days ahead, AUD/USD has the potential to corrected above but as long as the upward correction doesn’t break above the level 0,6495, then AUD/USD still has the potential to continue its weakness up to the level 0,6289 as the initial target and 0,6197 as the next target.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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