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Stock market analytics, financial forecasts

Forexmart's Market Analysis section provides up-to-date information about the financial market. The overviews are intended to give you an insight into current trends, financial forecasts, global economic reports, and political news that influence the market.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Technical Analysis of Intraday Price Movement of AUD/USD Commodity Currency Pairs, Tuesday October 15, 2024.
23:11 2024-10-14 UTC--4
Exchange Rates analysis

If we look at the 4-hour chart of the AUD/USD commodity currency pair, it appears that the CCI(30) indicator has successfully broken through below its 3 main important levels (100, 0, -100) and is now stuck at level 0, indicating a significant resistance level, all of which indicates that AUD/USD is currently in a weakening condition, plus confirmation of its price movement below EMA 21, so based on these facts, as long as there is no further strengthening that breaks through and closes above level 0.6761, AUD/USD has the potential to continue its weakening to level 0.6708. If this level is successfully broken through, the next targets are 0.6659 and 0.6602.

(Disclaimer)

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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.