FX.co - AUD/USD Update for September 21, 2023 - Breakout of the rising channel

2023-09-21T08:22:34

Relevance until2023-09-22

Technical analysis:

AUD/USD Update for September 21, 2023 - Breakout of the rising channel

AUD/USD has been trading downside I found breakout of the rising trend-line and upside channel, which is good sign for the further drop.

Due to the breakout of the rising channel and the short-term downside trend, I see potential for the further drop towards lower references,.

Downside objectives are set at the price of 0.6380 and 0.6360

RSI oscillator is showing shift in the condition to the downside, which is good sign for the further drop.

Key intraday resistance is set at the price of 0.6430

*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 21, 2023 - Breakout of the rising channel