AUD/USD Potential Downward Movement

AUD/USD Long-Term Trend: Bearish

Key Resistance Levels: 0.64710, 0.65166, 0.66244

Key Support Levels: 0.64303, 0.64015, 0.63795

4-Hour Chart:

The price on the higher time frame has been in a downtrend recently after it faced resistance at the 0.66150 level and reversed. The pair has continued to break a few resistance levels which suggests further trend continuation.

AUD/USD Medium-Term Trend: Bearish

30-Minute Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It broke a consolidation zone of 0.66244 and 0.65166 and has sustained below that. As of now the pair has broken and retested a minor level of 0.64710 before continuing the momentum.

Signal Idea:

Sell Stop Order @ 0.64578

TP @ 0.64383

Stop Loss @ 0.64773

Trade Safely 🙂