AUD/USD Potential Downward Movement

AUD/USD Long-Term Trend: Bearish

Key Resistance Levels: 0.7179, 0.7231, 0.7272

Key Support Levels: 0.7090, 0.7038, 0.6990

Daily Time-frame:

The price on the higher time frame has been in a downtrend for quite some time and recently we say a retest at price after the fall. It touched the trendline resistance and was rejected from there. We should expect the trend to maintain momentum.

AUD/USD Medium-Term Trend: Bearish

1-Hour Time-frame:

On the lower time frame, the price has shown a strong downtrend just like the higher timeframe. There is a downtrend and we saw a pullback in price recently. After a big wick rejection, the price is continuing towards the trend and we expect some momentum.

Signal Idea:

Sell Limit Order @ 0.7127

TP 1 @ 0.7065

TP 2 @ 0.7031

Stop Loss @ 0.7157

Trade Safely 🙂