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

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.

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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.