AUD/USD Long-Term Trend: Bearish
Key Resistance Levels: 0.7339, 0.7414, 0.7480
Key Support Levels: 0.7238, 0.7151, 0.7099
The price on the higher time frame is traded inside a bearish channel showing that we are in a clear downtrend. The market succeeded to break a daily support level around the 0.7339 USD which became a resistance. further movement to the downside is expected in the coming hours.
AUD/USD Medium-Term Trend: Bearish
On the lower time frame, the price posted a correction count around the 22.68 USDT level where it found buyers around the 61.80 % Fibonacci retracement level. This led to a move to the upside in the direction of the main trend. A lower correction could be seen to the highlighted zone before a new impulsive wave toward the target profit.
Sell Limit Order @ 0.73369
TP 1 @ 0.72407
TP 2 @ 0.71510
Stop Loss @ 0.73659
Trade Safely 🙂