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29.09.202220:22 Forex Analysis & Reviews: AUD/USD within down channel

Exchange Rates 29.09.2022 analysis

AUD/USD Minor Range!

AUD/USD dropped within a down-channel pattern. As long as it stays under the downtrend line, the price could approach and reach new lows. The downtrend line represents an upside obstacle.

In the short term, it's trapped between 0.6529 and 0.6446 levels. Technically, if it stays near the downtrend line, the AUD/USD pair could jump above it.

AUD/USD Trading Conclusion!

Staying below the downtrend line and dropping below the 0.6446 former low (downside obstacle) activates a deeper drop.

Jumping above the downtrend line and above the 0.6529 former high confirms a potential upside reversal.

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Ralph Shedler,
Analytical expert of InstaSpot
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