AUD/USD Long-Term Trend: Bearish
Key Resistance Levels: 0.7088, 0.7148, 0.7213
Key Support Levels: 0.6967, 0.6920, 0.6858
The price on the higher time frame has been trading in a downtrend for a few weeks. The pair had faced a big rejection around 0.7600 level and picked up bearish momentum. As of now, the price has broken a support level of 0.7090 and is sustaining below that.
AUD/USD Medium-Term Trend: Bearish
On the lower time frame, the pair is moving in the major trend’s direction. The price broke the support level of 0.7075 after consolidating for some time. The price has done a retest of that level and is picking up momentum.
Sell Stop Order @ 0.7033
TP 1 @ 0.6981
TP 2 @ 0.6929
Stop Loss @ 0.7085
Trade Safely 🙂