AUD/USD 1H Chart Analysis
Key Levels to Watch:
- Resistance Area (0.63306 - 0.63437): Price is currently rejecting this supply zone, indicating potential selling pressure.
- Support Area (0.62730 - 0.63018): This demand zone has previously led to price reversals, making it a key level for potential buying opportunities.
Possible Scenarios:
1. If price continues to reject the resistance area, a move toward the support area is likely.
2. A break above resistance could trigger bullish momentum, pushing the price higher.
3. A bounce from the support zone may provide a buying opportunity for a potential retest of resistance.
Conclusion:
Traders should watch for confirmation of rejection or breakout at the resistance area. A short-term bearish move toward support seems likely unless buyers regain strength.
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Key Levels to Watch:
- Resistance Area (0.63306 - 0.63437): Price is currently rejecting this supply zone, indicating potential selling pressure.
- Support Area (0.62730 - 0.63018): This demand zone has previously led to price reversals, making it a key level for potential buying opportunities.
Possible Scenarios:
1. If price continues to reject the resistance area, a move toward the support area is likely.
2. A break above resistance could trigger bullish momentum, pushing the price higher.
3. A bounce from the support zone may provide a buying opportunity for a potential retest of resistance.
Conclusion:
Traders should watch for confirmation of rejection or breakout at the resistance area. A short-term bearish move toward support seems likely unless buyers regain strength.
If you enjoy, press the like button.
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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.
💸FREE FOREX Signals in Telegram : t.me/SOAMPROTRADER
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/SOAMPROTRADER
🚀FREE CRYPTO Signals In Telegram: t.me/SOAMPROTRADER
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/SOAMPROTRADER
🚀FREE CRYPTO Signals In Telegram: t.me/SOAMPROTRADER
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.