Audusd: Priority for the downtrend

31 Eki 2023

Hello dear friends. After completing the formation of the 5 XABCD waves, the price continues to decline and there has been no reversal from this currency pair. From the 1D chart observation, it can be seen that the price continuously fluctuates below the ema 34 and 89 lines. Along with that is the parallel movement of these two ema lines. Currently, the price of AUDUSD is near the 1.63 level and trading in the prevailing trend is still the top choice and always prioritized.

The next target for this currency pair could be a further decline to the trendline at 0.625. Do you agree with this viewpoint and analysis? Comment and let Karina know your ideas!

31 Eki 2023

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