31.01.202406:50 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of AUD/USD Commodity Currency Pairs, Wednesday, January 31 2024.

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On the 4-hour chart of the AUD/USD commodity currency pair, a Rising Wedge pattern can be seen followed by the appearance of deviations between price movements and the Stochastic Oscillator indicator. This gives an indication that in the near future AUD/USD will fall lower to the level of 0.6562 if this level is successful. is penetrated downwards and there is no upward correction beyond the 0.6220 level, then AUD/USD will continue its weakening to the 0.6529 level as the main target and if momentum and volatility support then the 0.6455 level will be the next target.

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