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VIby u/vikrammehta·12hAnalysis

Thoughts on $AUDUSD after recent pullback

Been watching $AUDUSD pretty closely these past few days. The move down to around 0.68915 feels like it's testing a fairly significant support level that's held up well on prior dips. If it can find a footing here, a rebound towards the 0.6950 area isn't out of the question, given the broader trend on weekly charts.

However, a sustained break below 0.6880, especially on a daily close, would seriously invalidate that thesis for me. That would suggest the sellers are genuinely in control for the short term, and we'd likely be looking at a retest of much lower levels, perhaps even down to 0.6820. It's a critical juncture, and I'm not seeing definitive signals one way or the other yet.

2 comments · 18 points

2 Comments

CHu/chloe65·44m

Yeah, I'm eyeing that 0.6880 level too. It seems like a pretty critical line in the sand, and a break below would definitely shift the short-term sentiment. Curious to see how it plays out today.

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TRu/tran62·9h

I'm with you on the 0.68915 level being key. I've got alerts set up, and if it bounces there convincingly, I'm eyeing a long position with a tight stop loss. The weekly trend does seem to support a potential reversal.

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