'Fake Hope' For Investors, AUD/USD Has Passed $0.6600 But Plunged Again

<p>&nbsp;With the impact on the reaction to the inflation data of the United States (US) published in the New York session yesterday, not only the US dollar but other major currencies are not exempted from being affected.</p><p><br /></p><p>At the beginning when the data was published, the US dollar which experienced a decline seemed to give hope to other major currencies to increase, but the situation continued to change when the strengthening of the US dollar was exhibited until the end of the session.</p><p><br /></p><p>The same happened to the Australian dollar currency on the AUD/USD currency pair chart which has witnessed volatile movements yesterday.</p><p><br /></p><p>The price made an early rise to the 0.66170 level slightly above the high level recorded on Friday last week, but the price fell back again.</p><p><br /></p><p>The price decline continued until the close of the New York session reaching around 0.65200 and then flattened around that continuing trading in the Asian and European sessions today (Friday).</p><p><br /></p><p>The price that has moved below the Moving Average 50 (MA50) barrier on the 1-hour time frame on the AUD/USD chart is an early signal for bearish price movement after this.</p><p><br /></p><p>The decline if it continues will pass the lowest level reached last Tuesday at 0.65000 before heading to a lower level again.</p><p><br /></p><p><br /></p><p>The target can be observed at the 0.64600 zone as the closest focus that was previously hit and tested by the price in late May trading.</p><p><br /></p><p>However, if the price shows a rebound at the close of the week, watch the price movement after breaking the MA50 barrier level for an indication of a possible trend reversal.</p><p><br /></p><p>The price increase will attempt to match the high level reached yesterday before testing the SBR (support become resistance) zone at 0.66300.</p><p><br /></p><p>A higher move will target the 0.67000 concentration level after the bullish movement of the price is more clearly displayed.</p>