Daily Forex Analysis – AUD/USD
Daily Forex Analysis of AUD/USD suggests a sustained bearish inclination. The current Intraday Analysis emphasizes a continued descent from the point of 0.7160. The forecast pinpoints the next potential drop towards the 0.6200 mark. Conversely, surpassing the 0.6483 minor resistance might bring about a temporary stabilization, potentially setting the stage for a subsequent decline.
Diving deeper into the Daily Analysis, the enduring downtrend initiated from the 0.8010 mark, a notable 2021 high, seems to persist. Any breach below the 0.6461 support solidifies this bearish perspective. A more significant dive towards 0.6173 might set the eyes on the 0.6025 target. Unless we witness a potent rally surpassing 0.6898, this bearish forecast remains predominant.
Analysis Summary
The AUD/USD’s bearish momentum remains intact as it extends its drop from 0.7160, targeting a potential low of around 0.6200. Despite possibilities of temporary consolidation above 0.6483, the long-term outlook, rooted in the decline from 2021’s high of 0.8010, suggests further descent.
Key Points
- The extended decline from 0.7160 targeting 0.6200.
- Potential consolidation if surpassing 0.6483.
- The long-term downtrend from 2021’s high of 0.8010 remains intact.
