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AUD/USD Potential Downward Movement

AUD/USD Long-Term Trend: Bearish

Key Resistance Levels: 0.7287, 0.7325, 0.7381

Key Support Levels: 0.7184, 0.7149, 0.7095

Daily Time-frame:

The price on the higher time frame was moving in the bullish direction until it faced rejection and did a sharp reversal in the trend. The price broke the support level of 0.7277 with good momentum that confirms the bearish trend.  

AUD/USD Medium-Term Trend: Bearish

1-Hour Time-frame:

On the lower time frame, the reversed the trend from the 0.7430 level and has continued the bearish move. Recently, the price has broken the trading range to the downside after failing to break to the upside. We have seen a retest and the price is continuing the momentum.

Signal Idea:

Sell Limit Order @ 0.7232

TP 1 @ 0.7190

TP 2 @ 0.7150

Stop Loss @ 0.7273

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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