AUDUSD is still trading within a clear bearish structure, with price continuing to respect the descending trendline and staying below the Ichimoku cloud.
The latest move lower has pushed price beneath the recent support area, while the zone around 0.6990–0.7010 now looks more like a supply area than support.
As long as price remains below this zone and the descending trendline continues to hold, the bearish structure stays intact.
From here, I would still expect further downside, with the next target around 0.6880.
The latest move lower has pushed price beneath the recent support area, while the zone around 0.6990–0.7010 now looks more like a supply area than support.
As long as price remains below this zone and the descending trendline continues to hold, the bearish structure stays intact.
From here, I would still expect further downside, with the next target around 0.6880.
📊 | Gold |
Turning charts into opportunities.
🔍 Volume Analysis
📈 Trend Forecasts
💡 Free Trading Ideas
🌍 Join our growing community: t.me/+hBzvyXf4kKFiNTE1
Turning charts into opportunities.
🔍 Volume Analysis
📈 Trend Forecasts
💡 Free Trading Ideas
🌍 Join our growing community: t.me/+hBzvyXf4kKFiNTE1
Related publications
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.
📊 | Gold |
Turning charts into opportunities.
🔍 Volume Analysis
📈 Trend Forecasts
💡 Free Trading Ideas
🌍 Join our growing community: t.me/+hBzvyXf4kKFiNTE1
Turning charts into opportunities.
🔍 Volume Analysis
📈 Trend Forecasts
💡 Free Trading Ideas
🌍 Join our growing community: t.me/+hBzvyXf4kKFiNTE1
Related publications
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.