Australian Dollar / U.S. Dollar (AUD/USD)
📆 Timeframe: 1-Day (1D)
📈 Technical Breakdown:
1. Sideways Consolidation Zone
The price has been consolidating within a clear horizontal range.
This range is defined by upper resistance and lower support zones, with several rejections confirming the boundaries.
2. Downtrend Resistance Line Broken
A long-standing resistance trendline has been breached to the upside.
This breakout suggests a potential trend reversal or continuation rally if price holds above.
3. Seller Trap Identified
There was a strong liquidity sweep below the support zone, labeled “Sellers Got Trapped.”
This is a classic liquidity grab, where shorts were likely triggered before price reversed sharply upward.
4. EMA 50 as Dynamic Support
Price has reclaimed the 50 EMA (0.62701), indicating a shift in short-term momentum towards the bulls.
If the price remains above this moving average, it could act as a dynamic support in the near term.
5. RSI (Relative Strength Index) at 57.62
RSI is in bullish neutral territory, suggesting there’s still room for upward momentum before overbought levels (>70).
No bearish divergence is currently visible.
✅ Bullish Outlook:
Breakout above resistance trendline ✅
Recovery above EMA 50 ✅
Seller trap below range ✅
RSI supports further move ✅
📆 Timeframe: 1-Day (1D)
📈 Technical Breakdown:
1. Sideways Consolidation Zone
The price has been consolidating within a clear horizontal range.
This range is defined by upper resistance and lower support zones, with several rejections confirming the boundaries.
2. Downtrend Resistance Line Broken
A long-standing resistance trendline has been breached to the upside.
This breakout suggests a potential trend reversal or continuation rally if price holds above.
3. Seller Trap Identified
There was a strong liquidity sweep below the support zone, labeled “Sellers Got Trapped.”
This is a classic liquidity grab, where shorts were likely triggered before price reversed sharply upward.
4. EMA 50 as Dynamic Support
Price has reclaimed the 50 EMA (0.62701), indicating a shift in short-term momentum towards the bulls.
If the price remains above this moving average, it could act as a dynamic support in the near term.
5. RSI (Relative Strength Index) at 57.62
RSI is in bullish neutral territory, suggesting there’s still room for upward momentum before overbought levels (>70).
No bearish divergence is currently visible.
✅ Bullish Outlook:
Breakout above resistance trendline ✅
Recovery above EMA 50 ✅
Seller trap below range ✅
RSI supports further move ✅
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.