AUD/USD Potential Downward Movement

AUD/USD Long-Term Trend: Bearish

Key Resistance Levels: 0.65388, 0.65761, 0.66077

Key Support Levels: 0.65035, 0.64923, 0.64723

Daily Chart:

The price on the higher time frame has been in a downtrend recently after it faced resistance at a level of 0.68222 and reversed direction. The pair has continued to break 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 small consolidation zone of 0.66077 and 0.65761 and has sustained below that. As of now the pair has broken a minor level of 0.65388 with good momentum. 

Signal Idea:

Sell Limit Order @ 0.65247

TP @ 0.65059

Stop Loss @ 0.65435

Trade Safely 🙂