Good day to all traders and speculators who are here in the forum!
Let’s talk about the Australian dollar/US dollar currency pair:
It seems that the sales era is starting for the AUD/USD pair. On the four-hour time frame, the upward trend began a corrective move and shifted to selling after quite some time. The priority changed at the end of the previous week after the release of news during the US trading session. At the moment, the price of this instrument is at the level of 0.7351. We expect it to make a downward correction, which is a usual sight every Monday. After the opening of the market, we will move to the level of 0.7376 and then decline to the lower border of the channel 0.7291 and below. In such a case, they can change everything considering that there will be no key factors to appear until the current week ends. We will attempt to make an entrance into the market without a problem. It shows that the priority is the downward movement.