FX:AUDUSD continues to form a downtrend in the medium term. There is no way the Australian dollar can change the trend against the backdrop of a consistently strong US dollar.
Global and local trends coincide and have a downward trend. The dollar index continues to trade on the wave of positive economic news. Most likely in the future the currency pair will continue its decline. On H4 we are interested in the level of 0.6535. Consolidation of the price below this zone will form the potential for further decline. Medium-term targets in this case will be 0.6443 and 0.6352.
Resistance levels: 0.6535 Support levels: 0.6443
The bearish trend formation is likely to continue. The dollar is strong and is not going to give up its positions, which generally has a negative impact on the currency pair.
Regards R. Linda!
Comment
⋅
Retest of a previously broken level. Consolidation of the price below the zone will resume the fall