AUD/USD Rejection at Key Resistance – Potential Downside Ahead?
The AUD/USD pair has once again rejected a strong supply zone around 0.6300, signaling potential downside pressure. The recent bullish momentum was halted as the price entered a key resistance area, aligning with a bearish structure.
Key factors influencing this setup:
1️⃣ Resistance Rejection: Price faced rejection from the blue zone, confirming selling pressure.
2️⃣ USD Strength: The USD still has space to move towards the next resistance, showing short-term bullishness.
3️⃣ Fundamental Bias: AUD remains weak due to ongoing trade war fears with China.
If the price holds below the rejection zone, we could see a drop toward 0.6180 and beyond. Bears will be watching for further confirmation before entering aggressively.
📉 Bearish bias unless price reclaims resistance. What are your thoughts on this setup? Let me know in the comments! 🚀
Key factors influencing this setup:
1️⃣ Resistance Rejection: Price faced rejection from the blue zone, confirming selling pressure.
2️⃣ USD Strength: The USD still has space to move towards the next resistance, showing short-term bullishness.
3️⃣ Fundamental Bias: AUD remains weak due to ongoing trade war fears with China.
If the price holds below the rejection zone, we could see a drop toward 0.6180 and beyond. Bears will be watching for further confirmation before entering aggressively.
📉 Bearish bias unless price reclaims resistance. What are your thoughts on this setup? Let me know in the comments! 🚀
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