FX.co ★ AUD/USD Update for December 05, 2023 - Sellers in control

Technical analysis:

AUD/USD has been trading downside as I expected and the first downside objective at the price of 0.6575 has been reached. Sellers are still in control and I see potential for the further downside movement.

Due to the momentum divergence in the background and breakout of the support at 1.6570, I see potential for the further drop towards next downside references.

Downside objectives are set at the price of 0.6530 and 0.6460

RSI oscillator had bearish divergence in the background and still potential for the further downside movement.

Key resistance is set at the price of 0.675