FX.co - AUD/USD Update for September 02, 2021 - Exhaustion pattern and potential for the drop towards 0.7355

2021-09-02T11:19:13

Relevance until2021-09-03

Technical analysis:

AUD/USD Update for September 02, 2021 - Exhaustion pattern and potential for the drop towards 0.7355

AUD/USD has been trading higher this morning but there is exhaustion and slowdown that I found.

Trading recommendation:

Due to lack for buyers and exhaustion pattern, watch for selling opportunities with the downside targets at 0,7355 and 0,7345.

Stochastic oscillator is showing overbought condition and fresh bear cross, which is sign for the further downside movement.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ AUD/USD Update for September 02, 2021 - Exhaustion pattern and potential for the drop towards 0.7355