AUD/USD Bearish Reversal with Downside Targets

Mar 13

On the 1-hour chart of AUD/USD displayed on TradingView, price initially followed a strong bullish trend supported by a rising trendline and a break of structure (BOS). However, the market later showed a change of character (CHOCH) as price broke the trendline and moved below the Ichimoku Cloud, signaling a potential shift to bearish momentum. After rejecting a fair value gap (FVG) supply zone near the cloud, price started declining, suggesting sellers are gaining control. If bearish pressure continues, the chart projects downside targets around 0.7020 as the first target and 0.6980 as the second target, based on previous support and liquidity levels. 📉

Mar 13

Trade active

active active

Mar 13

Note

my first target is achieved

Mar 14

Trade closed: target reached

all of my given targets has been successfully achieved