The Aussie dollar (AUDUSD) is showing signs of weakness after repeated rejections at the 0.6470 supply zone. Price has struggled to break this area, forming a solid distribution pattern on the 1H chart. With momentum fading, the pair now looks poised for a potential downside move.
Technical Overview:
Strong Supply Zone: 0.6470 (marked by heavy distribution and LuxAlgo’s visible range)
Current Price: 0.6412
First Target (Support): 0.6221
Second Target (Demand Zone): 0.5986–0.5900
Bias: Bearish unless price breaks and closes above 0.6470 with strength
Confluences Supporting Bearish Outlook:
Prolonged sideways structure near supply = likely distribution
Multiple failed breakout attempts above 0.6470
AUD under pressure from commodity softness + stronger USD
Clean downside levels: 0.6221 (minor support), 0.5986 (major demand)
Trade Setup Idea:
Entry Zone: 0.6410–0.6440 (on rejection candles or breakdown)
Stop Loss: Above 0.6480
Targets:
1. TP1 – 0.6221
2. TP2 – 0.5986
R:R Potential: ~3R if both targets hit
Macro Watch:
Upcoming US data releases could fuel USD strength (FOMC, CPI)
Aussie impacted by China economic data and commodity demand outlook
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Will AUDUSD collapse from here or surprise us with a breakout? Let me know your outlook in the comments!
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#AUDUSD #Forex #BearishSetup #TechnicalAnalysis #LuxAlgo #PriceAction #SupplyAndDemand #TrendReversal #SwingTrading #VolumeProfile #USDEvents #ShortTrade
Technical Overview:
Strong Supply Zone: 0.6470 (marked by heavy distribution and LuxAlgo’s visible range)
Current Price: 0.6412
First Target (Support): 0.6221
Second Target (Demand Zone): 0.5986–0.5900
Bias: Bearish unless price breaks and closes above 0.6470 with strength
Confluences Supporting Bearish Outlook:
Prolonged sideways structure near supply = likely distribution
Multiple failed breakout attempts above 0.6470
AUD under pressure from commodity softness + stronger USD
Clean downside levels: 0.6221 (minor support), 0.5986 (major demand)
Trade Setup Idea:
Entry Zone: 0.6410–0.6440 (on rejection candles or breakdown)
Stop Loss: Above 0.6480
Targets:
1. TP1 – 0.6221
2. TP2 – 0.5986
R:R Potential: ~3R if both targets hit
Macro Watch:
Upcoming US data releases could fuel USD strength (FOMC, CPI)
Aussie impacted by China economic data and commodity demand outlook
---
Will AUDUSD collapse from here or surprise us with a breakout? Let me know your outlook in the comments!
---
#AUDUSD #Forex #BearishSetup #TechnicalAnalysis #LuxAlgo #PriceAction #SupplyAndDemand #TrendReversal #SwingTrading #VolumeProfile #USDEvents #ShortTrade
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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.