AUD/USD is currently in a downtrend, but recent price action suggests a potential retracement. The key area to monitor is the H4 and H1 resistance zone around 0.64245.
If the price retests this zone with a clear bearish bias and entry confirmation, a short entry could be considered with a tight 10-pip stop loss. The target for this short trade is set at 0.63747, representing a daily support level.
Alternatively, if the price demonstrates strong bullish signals at the 0.64245 zone, it may be on the path to 0.64457, which is a significant weekly resistance level.
It's crucial to closely observe price movements to identify the appropriate entry confirmation and act accordingly. Always apply prudent risk management techniques, as trading involves inherent risks. This idea is not financial advice; conduct your own research, assess your risk tolerance, and consider seeking guidance from a professional financial advisor as needed.
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unfortunately Entry is missed by just 3 pips and run 30+ pips down. so now it's invalid don't enter now