AUD/USD Long-Term Trend: Bearish
Key Resistance Levels: 0.6993, 0.7125, 0.7284
Key Support Levels: 0.6805, 0.6730, 0.6652
The price on the higher time frame has recently started a downtrend after forming lower-high candles. There are a few rejection wicks seen and the price broke a support level of 0.6993 with good momentum. We expect further trend continuation.
AUD/USD Medium-Term Trend: Bearish
On the lower time frame, the pair is moving in the major trend’s direction. The price broke to the downside and then consolidated between the range of 0.6949 and 0.6904 for some time. As of now the lower support has been broken and retested before picking up the momentum again.
Sell Limit Order @ 0.6880
TP 1 @ 0.6808
TP 2 @ 0.6736
Stop Loss @ 0.6952
Trade Safely 🙂