AUDUSD - Strong downtrend - resistance H4

AUD / USD trend forecast December 18, 2024

The Australian Dollar (AUD) continues to decline against the US Dollar (USD) for the second consecutive session on Wednesday, as markets prepare for a potential 25 basis point rate cut by the US Federal Reserve (Fed) during the upcoming North American session.

Adding to the pressure on the AUD, traders are increasingly anticipating that the Reserve Bank of Australia (RBA) may lower interest rates earlier and more aggressively than previously forecast. However, the RBA's future actions are expected to depend on incoming data and evolving risk assessments.

AUDUSD pair is maintaining huge selling pressure - still in downtrend. H4 support zone - can set up temporary recovery force

/// BUY AUDUSD : zone 0.62900- 0.62700

SL: 0.62300

TP: 50 - 120 - 200pips (0.64700)


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