AUD/USD Potential Downward Movement

AUD/USD Long-Term Trend: Bearish

Key Resistance Levels: 0.7191, 0.7225, 0.7276

Key Support Levels: 0.7147, 0.7115, 0.7083

Daily Time-frame:

The price on the higher time frame, the price was moving in a channel up pattern and recently we have seen a breakout of the channel in the downside. There were also rejection wicks and the price looks to be sustained under the trendline. We should expect a bearish momentum.

AUD/USD Medium-Term Trend: Bearish

1-Hour Time-frame:

On the lower time frame, the pair is moving in the direction of the major trend and has broken a support zone of 0.7169 There is momentum in the move and we expect it to continue as long as the pair trades below the upper resistance line.

Signal Idea:

Sell Limit Order @ 0.7166

TP 1 @ 0.7116

TP 2 @ 0.7087

Stop Loss @ 0.7191

Trade Safely 🙂