AUD/USD Technical Analysis: Understanding the Current Downtrend
Friday, 6 September 2024, 06:49
AUD/USD Technical Analysis Insights
AUD/USD is pulling back within a short-term downtrend, presenting opportunities for traders. As the pair faces resistance, the potential for bears to exert pressure increases, especially if the price breaks below key support levels.
Key Price Levels to Watch
- Current Resistance: 0.6700
- Support Level: 0.6685
A break below the 0.6685 low would confirm a continuation of the downtrend, indicating that bears will likely push the price lower again. Traders should keep a close eye on these levels for potential trading signals.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.