AUD/USD hourly chart analysis, further decline likely
Dear traders, AUD/USD has pulled back a bit after dropping to 0.6665 level.
However, it seems like the current pullback is about to end.
Price is struggling to cross the 100-hour moving average which is acting as
a dynamic resistance in AUD/USD. So, my recommendation is to sell the
rallies in AUD/USD.
The short-term target would be 0.6670. If the minor support line at 0.6670 breaks,
expect further decline towards 0.66
However, it seems like the current pullback is about to end.
Price is struggling to cross the 100-hour moving average which is acting as
a dynamic resistance in AUD/USD. So, my recommendation is to sell the
rallies in AUD/USD.
The short-term target would be 0.6670. If the minor support line at 0.6670 breaks,
expect further decline towards 0.66
