AUD/USD at Critical Resistance — Bearish Outlook Below 0.6538
1. Major Resistance Zone: 0.65380
Price is currently testing a strong horizontal resistance level at 0.65380, a level that has been tested multiple times (as shown by the pink circles).
This level has acted as a historical turning point, which increases its significance.
2. Price Structure: Lower Highs and Equal Highs
The chart reveals a potential double top or distribution pattern, forming under the 0.65380 resistance.
This suggests weakening bullish momentum and increases the probability of a bearish reversal.
3. Projected Bearish Path (White Dotted Lines):
If price fails to break above 0.65380 decisively, the expected move is a stepwise decline.
The projected path targets several support levels:
0.65003
0.64647
0.64213
0.63957
Final target: 0.63627, a key support from early May.
4. Support & Resistance Zones:
Resistance Levels:
0.65380 (Major)
0.65003
Support Levels (Sequential Targets):
0.64647
0.64213
0.63957
0.63627
5. Confluence with Fundamentals:
U.S. economic events (highlighted at the bottom with calendar icons) may act as volatility triggers, potentially accelerating this move.
✅ Summary & Trading Implications:
Bias: Bearish below 0.65380
Trade Idea: Watch for rejection at resistance or break below 0.65003 for confirmation.
Bearish Targets: Gradual move toward 0.63627 with key pauses at intermediate support levels.
Invalidation: Daily close above 0.65380 would negate the bearish setup and open potential for new highs.
Price is currently testing a strong horizontal resistance level at 0.65380, a level that has been tested multiple times (as shown by the pink circles).
This level has acted as a historical turning point, which increases its significance.
2. Price Structure: Lower Highs and Equal Highs
The chart reveals a potential double top or distribution pattern, forming under the 0.65380 resistance.
This suggests weakening bullish momentum and increases the probability of a bearish reversal.
3. Projected Bearish Path (White Dotted Lines):
If price fails to break above 0.65380 decisively, the expected move is a stepwise decline.
The projected path targets several support levels:
0.65003
0.64647
0.64213
0.63957
Final target: 0.63627, a key support from early May.
4. Support & Resistance Zones:
Resistance Levels:
0.65380 (Major)
0.65003
Support Levels (Sequential Targets):
0.64647
0.64213
0.63957
0.63627
5. Confluence with Fundamentals:
U.S. economic events (highlighted at the bottom with calendar icons) may act as volatility triggers, potentially accelerating this move.
✅ Summary & Trading Implications:
Bias: Bearish below 0.65380
Trade Idea: Watch for rejection at resistance or break below 0.65003 for confirmation.
Bearish Targets: Gradual move toward 0.63627 with key pauses at intermediate support levels.
Invalidation: Daily close above 0.65380 would negate the bearish setup and open potential for new highs.
Trade active
🟢 Market Update: AUD/USD Mid-Target Reached, Bearish Structure Still in PlayAs projected in the prior analysis, AUD/USD has successfully reached the midpoint of the outlined bearish scenario, reacting precisely at key resistance and descending as anticipated.
The price has respected the technical levels exceptionally well, validating the structure marked on the chart. With the first target hit, the pair remains in line with the anticipated downward trajectory toward the final target zone near 0.63627.
We’ll continue monitoring price action closely as momentum unfolds — structure is still intact, and the bearish scenario remains valid unless price decisively breaks back above the key resistance levels.
Let’s see how the market reacts next.
Market Analyst | Forex Mentor | XAUUSD Specialist
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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.
Market Analyst | Forex Mentor | XAUUSD Specialist
Services Offered:
• VIP Signals
• 1-on-1 Mentorship
• Professional Forex Course
• Affiliate Program
• Strategic Partnerships
Link to Join
t.me/ZareeFxTradingSignals
Services Offered:
• VIP Signals
• 1-on-1 Mentorship
• Professional Forex Course
• Affiliate Program
• Strategic Partnerships
Link to Join
t.me/ZareeFxTradingSignals
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.