Sell AUDUSD Channel Breakout

The AUD/USD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a bearish channel pattern. This pattern suggests ongoing selling pressure and a higher likelihood of further declines in the coming minutes or hours.

Key Points:

Bearish Channel Breakout: The price has been trading within a descending channel defined by two converging lines: a falling resistance line and a falling support line. This pattern indicates ongoing downtrend and potential for continued selling pressure.

Sell Entry: Consider entering a short position around the current price of 0.6514, which sits close to the broken channel resistance. This could offer an entry point near a potential reversal zone.

Target Levels: Initial bearish targets lie at the support levels of 0.6485 and 0.6468, marking previous support zones within the channel.

Stop-Loss: To manage risk, place a stop-loss order above the broken channel resistance line at 0.6540. This helps limit potential losses if the trend unexpectedly reverses.

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Trade aktif:

Stronger US Dollar: The US Dollar has strengthened slightly recently, supported by hawkish signals from the Federal Reserve and safe-haven flows amid risk aversion. This could put downward pressure on AUD/USD.

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