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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 🙂

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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