AUD/USD Long-Term Trend: Bearish
Key Resistance Levels: 0.6741, 0.6767, 0.6862
Key Support Levels: 0.6664, 0.6604, 0.6569
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
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.
Sell Stop Order @ 0.6712
TP 1 @ 0.6667
TP 2 @ 0.6577
Stop Loss @ 0.6757
Trade Safely 🙂