AUD/USD Bearish Reversal Setup — Resistance Rejection & Downside
Resistance Level: Marked near 0.65848, acting as a potential reversal zone.
Current Price: Around 0.65490 at the time of the chart.
Indicators:
EMA 50 (red) and EMA 200 (blue) are shown — price is currently above both EMAs, indicating recent bullish momentum.
RSI: Around 59.78, suggesting it’s approaching overbought territory but not extremely so.
Projected Move:
The drawn path suggests the pair may retest the resistance area (0.65635–0.65848), fail to break above, and then reverse sharply downward.
First Target: Around 0.64723, which is just above the EMA 200 level — a common support area.
Second Target: Around 0.63672, which implies a deeper bearish extension if the first support breaks.
Overall Idea:
The analysis expects a short-term bullish push to resistance, followed by a reversal and a significant drop.
It combines resistance rejection, EMA dynamic support zones, and bearish RSI divergence potential.
Bias: Bearish below the resistance area. Confirmation would come with bearish candlestick patterns or momentum breakdowns below the EMAs
Current Price: Around 0.65490 at the time of the chart.
Indicators:
EMA 50 (red) and EMA 200 (blue) are shown — price is currently above both EMAs, indicating recent bullish momentum.
RSI: Around 59.78, suggesting it’s approaching overbought territory but not extremely so.
Projected Move:
The drawn path suggests the pair may retest the resistance area (0.65635–0.65848), fail to break above, and then reverse sharply downward.
First Target: Around 0.64723, which is just above the EMA 200 level — a common support area.
Second Target: Around 0.63672, which implies a deeper bearish extension if the first support breaks.
Overall Idea:
The analysis expects a short-term bullish push to resistance, followed by a reversal and a significant drop.
It combines resistance rejection, EMA dynamic support zones, and bearish RSI divergence potential.
Bias: Bearish below the resistance area. Confirmation would come with bearish candlestick patterns or momentum breakdowns below the EMAs
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Join My Official Channel Link
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.