AUD/USD Market Analysis Scenario
Pair: AUD/USD
Bias: Bearish
Entry Consideration: Upon confirmation of rejection or reversal near the resistance zone.
Key Levels
Resistance: 0.64960 (critical supply zone)
1st Target: 0.64200
Final Target: 0.63800
Technical Scenario
The AUD/USD pair is currently trading below a strong resistance at 0.64960, which has acted as a key reversal zone in the recent past. Price action near this level indicates a potential bearish reversal pattern, such as a bearish engulfing, double top, or rejection wicks on higher time frames (H4 or D1).
If the pair fails to break above 0.64960, we can expect a downward movement toward the first support target at 0.64200, where minor demand might provide temporary consolidation. If bearish momentum continues, the pair could head further down to the final target at 0.63800, a previous swing low and stronger demand area.
Pair: AUD/USD
Bias: Bearish
Entry Consideration: Upon confirmation of rejection or reversal near the resistance zone.
Key Levels
Resistance: 0.64960 (critical supply zone)
1st Target: 0.64200
Final Target: 0.63800
Technical Scenario
The AUD/USD pair is currently trading below a strong resistance at 0.64960, which has acted as a key reversal zone in the recent past. Price action near this level indicates a potential bearish reversal pattern, such as a bearish engulfing, double top, or rejection wicks on higher time frames (H4 or D1).
If the pair fails to break above 0.64960, we can expect a downward movement toward the first support target at 0.64200, where minor demand might provide temporary consolidation. If bearish momentum continues, the pair could head further down to the final target at 0.63800, a previous swing low and stronger demand area.
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market reached at 0.63800 my first target completed successfully 500+ pips profit done
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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.
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.