AUD/USD maintains a bearish outlook, reinforced by the prevailing downtrend and a confirmed break below the previous consolidation zone.
Key Resistance Level: 0.6140 – previous support turned resistance
Downside Targets:
0.5930 – initial support
0.5890 and 0.5740 – longer-term bearish targets
An oversold bounce may retest 0.6140, but unless the pair breaks above this level, a bearish rejection could reinforce downside continuation toward the key support zones.
A daily close above 0.6140, however, would invalidate the bearish scenario, potentially shifting momentum toward 0.6240, with further gains to 0.6300.
Conclusion
AUD/USD is bearish below 0.6140. Watch for rejection at that level to confirm further downside potential. A break and daily close above 0.6140 would shift the outlook to bullish, opening the path toward 0.240 and beyond.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Key Resistance Level: 0.6140 – previous support turned resistance
Downside Targets:
0.5930 – initial support
0.5890 and 0.5740 – longer-term bearish targets
An oversold bounce may retest 0.6140, but unless the pair breaks above this level, a bearish rejection could reinforce downside continuation toward the key support zones.
A daily close above 0.6140, however, would invalidate the bearish scenario, potentially shifting momentum toward 0.6240, with further gains to 0.6300.
Conclusion
AUD/USD is bearish below 0.6140. Watch for rejection at that level to confirm further downside potential. A break and daily close above 0.6140 would shift the outlook to bullish, opening the path toward 0.240 and beyond.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
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.
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.