In this analysis, we dive deep into the AUD/USD pair, highlighting its ongoing bearish momentum and key levels to watch. Starting from the monthly timeframe, we explore the AUD’s struggles against the USD, identifying a strong bearish close in December and potential continuation downward.
Key Highlights:
• The Aussie Dollar has been in a 14-week downtrend, with the .6130 support level now in focus. • On the H4 timeframe, we’re looking for a pullback to areas like .6180 or a liquidity sweep around .6200 for potential sell opportunities. • Why the USD matters: The Dollar Index (DXY) shows bullish strength with strong volume increases, higher highs, and key resistance levels broken. These indicate continued pressure on AUD/USD.
Expectations: • A potential break of the .6130 support level with further bearish movement as the USD strengthens. • Watch for reactions at key levels and pullbacks before entering short positions.
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