Technical Analysis of Weekly Price Movement of AUD/USD Commodity Currency Pairs, Monday October 30, 2023.
October 30, 2023 8:23 am
From the weekly chart, the AUD/USD commodity currency pair appears to be dominated by sellers, where this can be seen from the price movement which is below WMA 30 with a decreasing slope, where in the next few weeks AUD/USD seems to be trying to test the 0.6171 level. If this level If it is successfully broken below, the 0.5510 level will be the next target to be aimed at, provided that if during its journey towards these target levels there is no significant upward correction, especially if it does not break above the 0.6902 level, because if this level is successfully broken, a decline will occur on the chart. This week will likely be on hold for a while.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
From the weekly chart, the AUD/USD commodity currency pair appears to be dominated by sellers, where this can be seen from the price movement which is below WMA 30 with a decreasing slope, where in the next few weeks AUD/USD seems to be trying to test the 0.6171 level. If this level If it is successfully broken below, the 0.5510 level will be the next target to be aimed at, provided that if during its journey towards these target levels there is no significant upward correction, especially if it does not break above the 0.6902 level, because if this level is successfully broken, a decline will occur on the chart. This week will likely be on hold for a while.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: