AUD/USD Exchanges 'Bearish' This Week, See How Far The Price Will Plunge!

<p>&nbsp;The price chart of the AUD/USD currency pair has shown a different movement pattern this week as changes have occurred in the trading of the US dollar currency.</p><p><br /></p><p>If previously the Australian dollar strengthened with a surprise interest rate hike by the Australian central bank, this week the US dollar is seen to dominate the situation and drown the previous excellent performance of the Australian dollar.</p><p><br /></p><p>The Federal Reserve (Fed) which signaled an increase in interest rates after this has returned the attraction to the US dollar currency in the currency market.</p><p><br /></p><p>Although somewhat mixed, the US dollar is still seen to be putting pressure on the Aussie dollar until the end of the week.</p><p><br /></p><p>On the AUD/USD chart, the bullishness shown has reached the 0.69000 level last week, recording a 4-month high.</p><p><br /></p><p>However, the price pattern changed this week which showed a fall again and so far this evening's European session, the price has dropped to around 0.67000.</p><p><br /></p><p>Price movement remains below the Moving Average 50 (MA50) barrier on the 1-hour time frame on the AUD/USD chart, projecting a continued bearish trend.</p><p><br /></p><p><br /></p><p>If the situation remains unchanged, the price could slide further lower after crossing 0.67000.</p><p><br /></p><p>The RBS (resistance become support) zone of 0.66400 will be the price focus on the decline that continues in these final sessions.</p><p><br /></p><p>However, if there is a rebound in price, the SBR (support become resistance) zone at 0.67600 will be the price target, and the MA50 barrier will also be tested.</p><p><br /></p><p>If it breaks higher, the price will rise again to around 0.68300 before resuming the climb to the peak of 0.69000 reached last week.</p>