Resistance Holds Strong – Is a Deeper AUD/USD Drop Coming?
Technical Analysis of AUD/USD
🔺 Resistance Zone Rejected
Price has once again faced rejection near the 0.6475–0.6500 resistance zone, indicating strong selling pressure at higher levels. This area has acted as a significant ceiling for recent bullish attempts.
📉 Uptrend Losing Momentum
The pair recently broke below a short-term upward trendline, signaling potential weakness. A failed breakout above resistance suggests a possible trend reversal or deeper pullback.
🔻 Range Breakdown Confirmation
Price is currently hovering just below the previous range area. A sustained move below this level could confirm a bearish breakdown, opening the door for further downside.
🎯 Bearish Targets Ahead
If the downtrend continues, the next key support levels and target zones are:
- 0.6185 – minor support
- 0.6020–0.6026 – primary target area
⚠️ Caution for Bulls
Until the price decisively reclaims the resistance zone, buyers should remain cautious. Lower highs and breakdown patterns favor the bears in the short term.
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🔺 Resistance Zone Rejected
Price has once again faced rejection near the 0.6475–0.6500 resistance zone, indicating strong selling pressure at higher levels. This area has acted as a significant ceiling for recent bullish attempts.
📉 Uptrend Losing Momentum
The pair recently broke below a short-term upward trendline, signaling potential weakness. A failed breakout above resistance suggests a possible trend reversal or deeper pullback.
🔻 Range Breakdown Confirmation
Price is currently hovering just below the previous range area. A sustained move below this level could confirm a bearish breakdown, opening the door for further downside.
🎯 Bearish Targets Ahead
If the downtrend continues, the next key support levels and target zones are:
- 0.6185 – minor support
- 0.6020–0.6026 – primary target area
⚠️ Caution for Bulls
Until the price decisively reclaims the resistance zone, buyers should remain cautious. Lower highs and breakdown patterns favor the bears in the short term.
If you enjoy, press the like button.
Trade active
Note
Just hold your Trades for big move Trade closed manually
Selling has no volume that's why I closed this trade manually.
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💸FREE FOREX Signals in Telegram : t.me/FxInsightsHub0
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
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🚀FREE CRYPTO Signals In Telegram: t.me/FxInsightsHub0
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/FxInsightsHub0
🚀FREE CRYPTO Signals In Telegram: t.me/FxInsightsHub0
Related publications
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.