AUD/USD Potential Downward Movement

AUD/USD Long-Term Trend: Bearish

Key Resistance Levels: 0.66074, 0.66412, 0.66806

Key Support Levels: 0.65515, 0.65208, 0.64985

Daily Chart:

The price on the higher time frame has been in a downtrend recently after it faced resistance at 0.67986 level and reversed the 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 has broken a key level of 0.66806 and has sustained below that. As of now the pair has broken a minor level of 0.66074 before continuing the momentum.

Signal Idea:

Sell Limit Order @ 0.65826

TP @ 0.65363

Stop Loss @ 0.66135

Trade Safely 🙂