AUDUSD: Bearish Market and How to Trade

The price broke the main uptrend line. We have a strong bearish candle and bearish signals from RSI, MACD lines, and MACD histogram. DMI is also bearish, but ADX line does not support the strength of sellers.

Sell trades should be opened based on the breakout. If you missed the opportunity to sell above 0.68000, it will be better to wait for a pullback and buy based on reversal signals from support zones.

The 1st support zone is 0.67500 level, where reversal signals can be used for buying in the daily and hourly timeframes.

If the price breaks this support, the 2nd support zone will be at 0.66700 level. The market will become too oversold, and buying will be supported by solid bullish signals.



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.