Analysis of AUD/USD Daily Chart: Bearish Signals and Potential Weakness

Turbulent Times: EU and China Service PMIs Raise Global Growth Concerns, UK Services PMI Improves, GBP/USD Faces Bearish Breakdown

On the daily chart of the AUD/USD Commodity currency pair, a deviation appears between price movements and the CCI Histogram indicator which is also stuck at level 0, indicating that the AUD/USD upward movement is being halted by resistance and the presence of a Bearish 123 pattern followed by a Bearish Ross Hook ( RH) plus the price movement is below WMA 20 which all indicates that as long as there is no significant upward rally, especially if it manages to break above the 0.6824 level, AUD/USD in the next few days has the potential to weaken down to the 0.6460 level.

 

 

Turbulent Times: EU and China Service PMIs Raise Global Growth Concerns, UK Services PMI Improves, GBP/USD Faces Bearish Breakdown

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