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AUD/USD Potential Downward Movement

AUD/USD Long-Term Trend: Bearish

Key Resistance Levels: 0.6741, 0.6767, 0.6862

Key Support Levels: 0.6664, 0.6604, 0.6569

Daily Chart:

The price on the higher time frame has been trading in a range for some time and then it faced rejection from the 0.7595 area. The pair has then broken the support level of 0.6993 and another minor level of 0.6848 has been broken with good momentum. 

AUD/USD Medium-Term Trend: Bearish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. The price broke the lower level after trading between a range of 0.6863 and 0.6767 for some time. It has sustained below that level. The price has also broken and retested a level of 0.6741 which indicates a bearish trend.

Signal Idea:

Sell Stop Order @ 0.6712

TP 1 @ 0.6667

TP 2 @ 0.6577

Stop Loss @ 0.6757

Trade Safely 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

5 comments

  1. Hi this signal is cancelled?

  2. Appreciate the analysis on this pair. Great work

  3. Christianradebe138@gmail.com

    Hi , I just funded my new account iam a newbie and I wish and love to be a professional trader and consistently. My goal is to quit my job and be a trader for lifetime and have streams of income. My name is Christian from South Africa Johannesburg

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