Technical analysis of AUD/USD 07/02/2024

The AUD/USD currency pair at (1D) is in a downtrend.

The pair has formed a “Head and Shoulders” pattern and is currently consolidating in the resistance area of 0.6530 (MA100), (neck line).

The technical picture suggests a continuation of the decline as part of the development of the “Head and Shoulders” pattern with a target of 0.6200.

A signal to cancel the downward development option will be the pair’s growth above the right shoulder of the “Head and Shoulders” figure 0.6630.


Created by Joshua Hayn

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