AUDUSD: Bearish Drop to 0.668?

Jul 3

As the previous analysis worked exactly as predicted, AUDUSD is eyeing a bearish reversal on the 4-hour chart, with price testing resistance after forming lower highs, converging with a potential entry zone that could trigger downside momentum if sellers defend amid recent volatility. This setup suggests a pullback opportunity in the uptrend, targeting lower support levels with close to 1:5.5 risk-reward overall.🔥

Entry between 0.702–0.704 (entry from current price with proper risk management is recommended).Targets at 0.676 (first), 0.668 (second). Set a stop loss at a daily close above 0.709, yielding a risk-reward ratio of close to 1:5.5 overall. Monitor for confirmation via a bearish candle close below entry with rising volume, leveraging the pair's weakness near resistance.🌟

📝 Trade Setup

🎯 Entry (Short):
0.7020 – 0.7040
(Entry from current price is valid with proper risk & position sizing.)

🎯 Targets:
• 0.6760 (First Target)
• 0.6680 (Final Target)

❌ Stop Loss:
• Daily close above 0.7090

⚖️ Risk-to-Reward:
• ~ 1:5.5 Overall

💡 Does AUDUSD reject the 0.7020–0.7040 resistance zone and decline toward 0.6760 and 0.6680, or will buyers break higher and extend the current recovery? 👇

Jul 17

Trade active

The position was activated.