AUD/USD Potential Downward Movement

AUD/USD Long-Term Trend: Bearish

Key Resistance Levels: 0.65281, 0.65615, 0.65936

Key Support Levels: 0.64508, 0.64215, 0.63878

Daily Chart:

The price on the higher time frame has recently been in a downtrend. It tested a resistance level of 0.65936 and reversed back. The pair has also broken a few support levels which suggests further trend continuation.

AUD/USD Medium-Term Trend: Bearish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It broke a support area recently to shift the short term trend to bearish. As of now the pair has broken and retested a minor level of 0.65281 before continuing the momentum.

Signal Idea:

Sell Limit Order @ 0.64928

TP @ 0.64551

Stop Loss @ 0.65306

Trade Safely 🙂

This trading signal is not financial advice, it is only education, and our opinion. Any trade you take is your decision. Trade safely.

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