Hey everyone, Ken here!
Right now, AUDUSD is shaping up into a textbook bearish setup. Price has broken through a key support level and is already showing early signs of selling pressure taking control. Following the breakdown, the market is pulling back to retest that broken zone, a classic move that often confirms continuation to the downside.
Given this technical backdrop, I don’t expect price to reclaim that old support, which now acts as resistance. A clean rejection from this area could trigger the next leg lower, with a projected target around 0.65050, perfectly aligned with the 1.618 Fibonacci extension.
What’s your take on this setup?
Right now, AUDUSD is shaping up into a textbook bearish setup. Price has broken through a key support level and is already showing early signs of selling pressure taking control. Following the breakdown, the market is pulling back to retest that broken zone, a classic move that often confirms continuation to the downside.
Given this technical backdrop, I don’t expect price to reclaim that old support, which now acts as resistance. A clean rejection from this area could trigger the next leg lower, with a projected target around 0.65050, perfectly aligned with the 1.618 Fibonacci extension.
What’s your take on this setup?
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관련 발행물
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.