AUDUSD | Rising Channel Rejection at Resistance Zone (4H Analysi
AUDUSD has been respecting a rising channel since February, but price is now stalling near the top of the structure, just below a strong resistance zone.
• Bearish Rejection: Price has tested this blue resistance box multiple times with wicks showing rejection.
• Key Levels:
• Resistance Zone: 0.64000 - 0.64100
• Support Line: Lower boundary of the rising channel
• If price breaks below the channel, we could see a correction toward 0.63580 and potentially lower.
This setup is ideal for watching bearish confirmation or breakout retest entries. Bullish momentum would need to break and close above the resistance zone for continuation.
• Bearish Rejection: Price has tested this blue resistance box multiple times with wicks showing rejection.
• Key Levels:
• Resistance Zone: 0.64000 - 0.64100
• Support Line: Lower boundary of the rising channel
• If price breaks below the channel, we could see a correction toward 0.63580 and potentially lower.
This setup is ideal for watching bearish confirmation or breakout retest entries. Bullish momentum would need to break and close above the resistance zone for continuation.
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.