AUD/USD - Bullish Bounce Incoming?
📈 AUD/USD - Bullish Bounce Incoming? 🚀
The pair has reached a critical demand zone (highlighted in purple) with a confluence of strong support and resistance levels. This aligns with our bullish view for a potential recovery.
🔍 Key Factors Supporting the Buy Setup:
1️⃣ Demand Zone: The price has sharply tested a key historical demand area (around 0.6225–0.6275), showing signs of buyers stepping in.
2️⃣ Support Confluence:
Strong horizontal support at 0.6225.
Demand-supply zone overlap further strengthens the level.
3️⃣ Oversold Conditions: The recent sell-off appears overextended, increasing the likelihood of a reversal.
🚀 Upside Targets:
First Target: 0.6604 (short-term resistance).
Second Target: 0.6681–0.6696 (key Fibonacci retracement level).
🚨 Risk Management:
Stop Loss: Below 0.6140 (below the demand zone to avoid false breakouts).
💡 Pro Tip: Monitor price action closely in this zone for confirmation of bullish momentum before entering.
🔔 Follow us for more actionable setups!
The pair has reached a critical demand zone (highlighted in purple) with a confluence of strong support and resistance levels. This aligns with our bullish view for a potential recovery.
🔍 Key Factors Supporting the Buy Setup:
1️⃣ Demand Zone: The price has sharply tested a key historical demand area (around 0.6225–0.6275), showing signs of buyers stepping in.
2️⃣ Support Confluence:
Strong horizontal support at 0.6225.
Demand-supply zone overlap further strengthens the level.
3️⃣ Oversold Conditions: The recent sell-off appears overextended, increasing the likelihood of a reversal.
🚀 Upside Targets:
First Target: 0.6604 (short-term resistance).
Second Target: 0.6681–0.6696 (key Fibonacci retracement level).
🚨 Risk Management:
Stop Loss: Below 0.6140 (below the demand zone to avoid false breakouts).
💡 Pro Tip: Monitor price action closely in this zone for confirmation of bullish momentum before entering.
🔔 Follow us for more actionable setups!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.