Technical analysis signals – Divergence at AUD/USD

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Technical analysis signals a possible correction of the AUD/USD currency pair after a prolonged decline.

A classic reversal formation has been formed in the trading instrument the price and MACD histogram divergence (H1 timeframe).

At the moment, the AUD/USD quotes are consolidating.

The local resistance is the level 0.70600. We recommend paying attention to this situation.

If the price fixes above 0.70600, you need to look for entry points to the market in order to open long positions.

The immediate goal for profit taking is the round level of 0.71000. In the medium term, the AUD/USD currency pair may reach the level of 0.71250-0.71450.

The information disclosed here is for a trading idea only; it does not constitute investment advice. It cannot replace professional investment advice.