AUDUSD Technical Analysis: Weak bearish trend

American session, date: 7/2/2024

Introduction and overview

This report provides a technical analysis of the Australian dollar against the US dollar during the American session, with a focus on trading strategies based on resistance and support levels. The pair is currently trading at the level of $0.6657. Prices are trading above most of the moving average intersections, indicating a weak downward trend. The MACD indicator shows an end to the negative trend, which enhances the positive possibilities for the pair. AUDUSD Technical Analysis

Trading strategies based on Buy/Sell levels

AUDUSD In case of buying in case of selling
Entry point 0.6664 0.6643
Target Point 1 (TP1) First resistance: 0.6676 First support: 0.6636
Target Point 2 (TP2) Second resistance: 0.6695 Second support: 0.6624
Stop Loss (SL) 0.6643 0.6664
 

Conclusion

The technical analytical study of this data showed clear results indicating the main trends and changes in the market. The technical indicators used and graphical analysis highlight the relative strength of the assets studied, and help identify potential investment opportunities and associated risks. This technical analysis reflects the importance of integrating modern tools and technologies into the investment decision-making process to enhance efficiency and accuracy. In light of these results, investors can improve their strategies and achieve better performance in the financial markets.