FX.co ★ AUD/USD Update for December 06, 2023 - Rejection of the resistance

Technical analysis:

AUD/USD has been trading upside this morning but I found rejection of the key resistance at the price of 0.6600 and potential for the further downside continuation.

Due to the bearish divergence in the background and the bearish reversal on the RSI oscillator, I see potential for the further drop towards lower references.

Downside objectives are set at the price of 0.6530 and 0.6460

RSI oscillator is showing reading below 50, which is sign of the downside range expansion.

Key intraday resistance is set at the price of 0.6600