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31.05.2023 05:18 PM
The AUD/USD pair extended its downside movement and now is trading at 0.6469. The rate failed to retest the downtrend line in the last attempt indicating strong sellers and a potential downside continuation.
Now, it has dropped below the 0.6496 former low which represented a downside obstacle. As long as it stays below the downtrend line, the currency pair
The breakdown below 0.6496 former low was seen as a new selling opportunity. The channel's downside line represents the next major target.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
