AUD/USD WEEKLY SCENARIO

AUD/USD TECHNICAL ANALYSIS: WEEKLY CHART

In the weekly chart, AUD/USD is trading in the down channel.

AUD/USD is currently trading below 20&50 SMA.

RSI is in buying zone, which shows bullishness. Stochastic is suggesting an up trend.

Its immediate support is at 0.65241 & the resistance is at 0.66105

On the weekly chart, the AUD/USD has been fluctuating for a while, but as of right now, we can anticipate seeing a clear trend. On the weekly chart, the price is currently trading above a significant resistance level. If the price maintains this level, the upward potential exists. 

AUD/USD TECHNICAL ANALYSIS: DAILY CHART

In the daily chart, AUD/USD is trading in the down channel.

AUD/USD is currently trading below 20&50 SMA.

RSI is in buying zone, which shows bullishness. Stochastic is suggesting an up trend.

Its immediate support is at 0.65690 & the resistance is at 0.66057

After trading within its range, the AUD/USD gave a breakout to the downside on the daily chart, but the breakout was unsuccessful because the price began to reverse upward. Price is currently heading upward, breaking through a key resistance level, and continuing to rise above it. Upward movement may still be potential if the price holds at this level.

TRADE SUGGESTION: – BUY AT 0.66053, TAKE PROFIT AT 0.66571, SL AT, 0.65698