The AUD/USD currency pair is currently showing bearish signals supported by several key technical factors. There are three primary reasons for a sell position under current market conditions:
- Weak Price Structure
The price has failed to make a new higher high and is instead forming a lower high, indicating fading bullish momentum and a potential downside reversal. - Rising Wedge Pattern
A bearish rising wedge pattern has formed, which often precedes downward breakouts in price. - Attractive Risk-to-Reward Ratio
The trade setup offers a favorable risk-to-reward ratio of 1:1.5, making it suitable for traders who practice sound risk management.
- Recommendation: Sell AUD/USD
- Entry: 0.65817
- Stop Loss: 0.65336
- Take Profit: 0.64020
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