The Aussie dollar is trading right below a major supply zone (0.64796 area) and showing signs of exhaustion after multiple failed attempts to break higher. This is a textbook distribution phase, often preceding a significant drop.
📌 Key Levels:
🔹 Supply Zone: 0.64796 (Heavy rejection seen multiple times)
🔹 Mid-Level Support: 0.62210
🔹 Major Demand Zone: 0.59468 – 0.60000 (POI + high volume node)
🔻 Bearish Outlook: If price fails to reclaim the supply zone, we may see a move to:
1. 0.62210 – minor support, likely to break on high momentum
2. 0.59468 – high-interest demand area + visible range support
📉 Confluence Factors:
Price trapped in a range under supply
Weak bullish momentum after previous rally
Red arrows suggest next bearish impulse targets
Demand visible via LuxAlgo’s Volume Profile + Order Block
USD strength likely from upcoming U.S. data (NFP, CPI news ahead 📅)
---
🎯 Trading Plan:
🧨 Break & Retest below 0.64000 = Sell confirmation
🎯 TP1: 0.62210
🎯 TP2: 0.59468
🚫 SL: Above 0.64800 zone
---
📌 Risk Management is key – wait for confirmations like strong bearish candle close or volume spike on breakdown. Don’t rush entries.
💬 What do you think? Will the bears take control or will bulls defend this zone again?
📊 Drop your analysis below and don’t forget to like & follow for more FX setups!
#AUDUSD #Forex #SmartMoney #SupplyAndDemand #PriceAction #ForexTrading #LuxAlgo #TechnicalAnalysis #TradingView #BearishSetup
📌 Key Levels:
🔹 Supply Zone: 0.64796 (Heavy rejection seen multiple times)
🔹 Mid-Level Support: 0.62210
🔹 Major Demand Zone: 0.59468 – 0.60000 (POI + high volume node)
🔻 Bearish Outlook: If price fails to reclaim the supply zone, we may see a move to:
1. 0.62210 – minor support, likely to break on high momentum
2. 0.59468 – high-interest demand area + visible range support
📉 Confluence Factors:
Price trapped in a range under supply
Weak bullish momentum after previous rally
Red arrows suggest next bearish impulse targets
Demand visible via LuxAlgo’s Volume Profile + Order Block
USD strength likely from upcoming U.S. data (NFP, CPI news ahead 📅)
---
🎯 Trading Plan:
🧨 Break & Retest below 0.64000 = Sell confirmation
🎯 TP1: 0.62210
🎯 TP2: 0.59468
🚫 SL: Above 0.64800 zone
---
📌 Risk Management is key – wait for confirmations like strong bearish candle close or volume spike on breakdown. Don’t rush entries.
💬 What do you think? Will the bears take control or will bulls defend this zone again?
📊 Drop your analysis below and don’t forget to like & follow for more FX setups!
#AUDUSD #Forex #SmartMoney #SupplyAndDemand #PriceAction #ForexTrading #LuxAlgo #TechnicalAnalysis #TradingView #BearishSetup
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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.