The entire move to August is now negative
AUDUSD has risen 48 trading days in Alaska. During this period, the shift in August from 0.74259 to 0.71059 (and then some) has been completely withdrawn.
Pricing has brought the highest price on August 5 to 0.74259. If the price is broken, the level will also be higher. If the price may remain higher, the bulls will remain under control.
Looking at the daily chart more broadly, although the price has been following the decline in August, it will remain at its highest level for a couple of years – 0.8006 – on February 25. Today, however, the price rose above 38.2% in the trading area of 2021 0.74498. Currently, the price is trading around this level.
The downward trend will be a downward trend line at 0.7486. Exceeding this level is the next goal if buyers want to continue at a higher level. Above this, the second main target would be a falling 100-day moving average at 0.7548.