The 4-hour chart shows a bear flag breakdown, a bearish continuation pattern. The pair remains on the defensive with scope for a drop below 0.67. AUD/USD has recovered from session lows, but the bulls are not out of the woods yet as a bearish pattern on the 4-hour chart is still valid. The currency pair is currently trading at 0.68, representing a 0.10% drop on the day, having hit a low of 0.6786 earlier today. However, it is still too early to call a bullish reversal, as the bear flag breakdown on the 4-hour chart confirmed during the US trading hours on Wednesday is still valid. The flag breakdown has created room for a drop to 0.6675 (target as per the measured move method). Supporting the bearish case is the below-50 reading on the 14-day relative strength index (RSI). The MACD histogram is also printing deeper bars below the zero line. The immediate outlook would turn bullish if and when the pair finds acceptance above 0.6835, invalidating the bearish lower highs setup. 4-hour 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 NZD/USD Technical Analysis: Sellers observe immediate rising wedge amid bearish MACD FX Street 3 years The 4-hour chart shows a bear flag breakdown, a bearish continuation pattern. The pair remains on the defensive with scope for a drop below 0.67. AUD/USD has recovered from session lows, but the bulls are not out of the woods yet as a bearish pattern on the 4-hour chart is still valid. The currency pair is currently trading at 0.68, representing a 0.10% drop on the day, having hit a low of 0.6786 earlier today. However, it is still too early to call a bullish reversal, as the bear flag breakdown on the 4-hour chart confirmed… 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.
