AUD/USD Long-Term Trend: Bearish
Key Resistance Levels: 0.7191, 0.7225, 0.7276
Key Support Levels: 0.7147, 0.7115, 0.7083
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
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.
Sell Limit Order @ 0.7166
TP 1 @ 0.7116
TP 2 @ 0.7087
Stop Loss @ 0.7191
Trade Safely 🙂