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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 🙂

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.

One comment

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