FX.co ★ Technical Analysis of Intraday Price Movement of AUD/USD Commodity Currency Pairs, Tuesday July 25 2023.

On the 4-hour chart for the AUD/USD commodity currency pair, you can see the appearance of the inverted head & shoulders pattern on the CCI indicator, which coincidentally also caused the downward movement in the AUD/USD price to be halted at the Bullish Orderblock area level at 0.6726 which acted as a significant support level coupled with the emergence of the Descending broadening Wedge pattern which confirms the existence of bull momentum in the near future so if there is no further decline that passes below the 0.6687 level then AUD/USD has the potential to go to the 0.6849 level and if this level is successfully broken above then the 0.6895 level has the potential to be the next target.

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