Potential Weakness for the Australian Dollar in the Near Term

The Australian Index is moving sideways on the daily timeframe.

The pair has reached supply zones on both the 4-hour and hourly timeframes.

Currently, there is a clear bearish divergence on the hourly timeframe,

which increases the likelihood of a near-term reversal.

Expected Targets

A reversal and a decline in the index are expected soon,

but only if the minor upward trendline shown on the chart

 is broken to confirm the near-term downtrend.

In the event of a decline, the targets identified on the chart, 

which are at the 1.3680 and 1.3650 levels, are expected to be reached.

Of course, this analysis will be invalidated if the index continues its upward movement,

breaks through the current supply zones, and closes above them with an hourly candle.