US dollar’s broad-based oversold bounce weighs over AUD/USD. The pair carves out a bearish pattern on the hourly chart. AUD/USD is currently trading 0.30% lower on the day near 0.7744, having declined by 0.41% on Thursday. The losses could be associated with the US dollar’s broad-based oversold bounce. The hourly chart shows the currency pair is forming a head-and-shoulders pattern with neckline support near 0.7724. Acceptance under that level would confirm bearish reversal and open the doors to 0.7628 (target as per the measured move method). On the higher side, the session high of 0.7773 is the level to watch out for, followed by Wednesday’s high of 0.7820. Hourly chart Trend: Bearish below 0.7724 Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US Dollar Index Price Analysis: Bulls cheer break of 13-day-old resistance to attack 90.00 FX Street 1 year US dollar's broad-based oversold bounce weighs over AUD/USD. The pair carves out a bearish pattern on the hourly chart. AUD/USD is currently trading 0.30% lower on the day near 0.7744, having declined by 0.41% on Thursday. The losses could be associated with the US dollar's broad-based oversold bounce. The hourly chart shows the currency pair is forming a head-and-shoulders pattern with neckline support near 0.7724. Acceptance under that level would confirm bearish reversal and open the doors to 0.7628 (target as per the measured move method). On the higher side, the session high of 0.7773 is the level to watch… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
