AUD/USD’s hourly chart is reporting an end of a corrective bounce. The support near 0.6714 will likely hold with the daily chart flashing a bullish candlestick arrangement. AUD/USD has pulled back from session highs, confirming a rising wedge breakdown on the hourly chart. The spot fell from 0.6742 to 0.6730 in the last two hours and was last seen trading around 0.6733. The rising wedge breakdown, a bearish reversal pattern, indicates the bounce from the Feb. 3 low of 0.6679 has ended and the bears have regained control. The spot could drop to the 100-hour average at 0.6712. A violation there would expose support at 0.6679. The support at 0.6712, however, is likely to hold, with the daily chart reporting a bullish hammer reversal pattern – the pair formed a small inverted hammer pattern on Monday and jumped 0.70% on Tuesday. Hourly chart Trend: Bearish 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 EUR/USD Price Analysis: 10-day SMA offers immediate support FX Street 2 years AUD/USD's hourly chart is reporting an end of a corrective bounce. The support near 0.6714 will likely hold with the daily chart flashing a bullish candlestick arrangement. AUD/USD has pulled back from session highs, confirming a rising wedge breakdown on the hourly chart. The spot fell from 0.6742 to 0.6730 in the last two hours and was last seen trading around 0.6733. The rising wedge breakdown, a bearish reversal pattern, indicates the bounce from the Feb. 3 low of 0.6679 has ended and the bears have regained control. The spot could drop to the 100-hour average at 0.6712. A violation… 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.
