Title: AUD/USD Downtrend Continues as Correction Nears End – Expert Analysis
As the world’s leading investment manager and financial market journalist, I am here to provide you with valuable insights on the AUD/USD pair. The recent pullback within a short-term downtrend indicates a potential reversal in trend, with the correction expected to run out of steam soon.
Technical analysis suggests that the bearish trend is likely to continue, with the pair forming a series of falling peaks and troughs. As per the age-old adage, “the trend is your friend,” the odds favor further downside movement in the near future.
Looking at the 4-hour chart of AUD/USD, we can see that the pair bottomed out at 0.6685 on September 4 and has been undergoing a shallow correction since then. However, this counter-trend reaction is expected to be short-lived, with bears likely to push the price lower again in alignment with the overall downtrend.
A break below the 0.6685 low would confirm the continuation of the downtrend, with potential targets at 0.6645 and 0.6587, the Fibonacci 0.50 ratio retracement level of the August rally.
In conclusion, it is essential to stay informed about market trends and technical analysis to make informed investment decisions. The current outlook for AUD/USD suggests further downside potential, highlighting the importance of strategic planning and risk management in your financial endeavors.