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HomeContributorsTechnical AnalysisAUD/USD Technical Analysis 4th July 2022

AUD/USD Technical Analysis 4th July 2022

FXOpen
By FXOpen

The Aussie Dollar started a fresh decline from the 0.6920 zone against the US Dollar. The AUD/USD pair traded below the 0.6850 support to move into a bearish zone.

It tested the 0.6760 zone on FXOpen and is currently correcting losses. It is now trading well below the 0.6850 level and the 50 hourly simple moving average. An immediate resistance on the upside is near the 0.6820 level.

There is also a key bearish trend line with resistance near 0.6825 on the hourly chart. If there is an upside break above the 0.6825 level, the pair could rise steadily towards the 0.6850 level in the near term. Any more gains could send the pair towards 0.6920.

An immediate support on the downside is near the 0.6780 level. The next key support is near the 0.6750 level. A downside break below the 0.6750 support could lead the pair towards the 0.6680 support.

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