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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 🙂

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.

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