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Message: [QUOTE="Resolve, post: 237224, member: 29339"] [B][SIZE=5]AUDUSD Technical Analysis – 03rd OCT, 2024 AUDUSD – Support of Channel is Broken[/SIZE][/B] [img]https://i.imgur.com/GsLb3tT.png[/img] AUDUSD was unable to continue its bullish momentum and after touching a high of 0.6897 the prices started to decline against the United States Dollar today in the US Trading session. The Support of channel is broken in the 1-hourly timeframe. We can see the formation of Bearish engulfing lines in the 15-minutes timeframe. We have seen that the Pivot points: price is under support 3 in the 2-hourly timeframe indicating a Neutral market. The prices of AUDUSD are ranging Near horizontal resistance in the weekly timeframe. The prices of AUDUSD is back under the pivot point in the weekly timeframe. The RSI indicator: bearish divergence is also visible in the weekly timeframe. AUDUSD is now trading below its 100-hour SMA and above its 200-hour SMA simple moving averages. • Aussie Bearish reversal seen below the 0.6897 mark. • Short-term range appears to be Bearish. • AUDUSD continues to remain above the 0.6840 levels. • Average true range ATR is indicating Less market volatility. The next support is located at 0.6844 which is a Price 3 Standard Deviations Support. AUDUSD is now trading near to its Pivot levels of 0.6845 and is moving into a Bearish channel. The price of AUDUSD remains above its Classic support levels of 0.6832 and is moving towards its next target of 0.6828 which is a Pivot Point 3rd Support Point. #fxopen [I][B]Disclaimer:[/B] This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.[/I] [B][URL="https://fxopen.com/blog/en/?utm_source=earnforexforum&utm_medium=ownanalysis&utm_campaign=resolve"]For in-depth analysis, please check FXOpen Blog[/URL][/B] [/QUOTE]

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