The AUD/USD pair has officially broken below its medium-term ascending channel on the daily chart, signaling a strong shift in momentum. After failing to hold above the resistance zone at 0.6311 – 0.6386, the pair reversed sharply and is now trading around 0.6213.
🔍 Key technical highlights:
A confirmed breakout beneath the channel support, accompanied by strong bearish candles, suggests growing seller dominance.
Both the EMA 34 and EMA 89 are now positioned well above the current price, reinforcing a medium-term bearish trend.
A potential short-term pullback to the 0.6240 – 0.6266 area may occur before further downside continuation.
📉 Next downside target: If bearish momentum persists and price fails to reclaim the broken support, the pair is likely to slide toward the marked support at 0.59142.
💬 With the USD gaining strength amid hawkish Fed expectations and the AUD facing domestic economic headwinds, selling the rallies remains the favored strategy in the current environment.
🔍 Key technical highlights:
A confirmed breakout beneath the channel support, accompanied by strong bearish candles, suggests growing seller dominance.
Both the EMA 34 and EMA 89 are now positioned well above the current price, reinforcing a medium-term bearish trend.
A potential short-term pullback to the 0.6240 – 0.6266 area may occur before further downside continuation.
📉 Next downside target: If bearish momentum persists and price fails to reclaim the broken support, the pair is likely to slide toward the marked support at 0.59142.
💬 With the USD gaining strength amid hawkish Fed expectations and the AUD facing domestic economic headwinds, selling the rallies remains the favored strategy in the current environment.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.