05.10.202306:44 Forex Analysis & Reviews: Technical Analysis of Daily Price Movement of AUD/USD Commodity Currency Pairs, Thursday October 05, 2023

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

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)

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.