FXNOVA Strategy – AUD/USD Bearish Bias Below 0.7065
Analysis:
AUD/USD faces strong intraday resistance at 0.7065, keeping the short-term bias tilted to the downside. As long as price remains capped below this level, sellers are likely to target 0.7015, followed by the extended objective at 0.7000. The failure to reclaim the pivot reinforces the bearish structure and increases the probability of renewed downward pressure.
Price action suggests that upside attempts remain corrective while resistance holds firm. The risk of a break below 0.7015 remains elevated if 0.7065 is not surpassed, confirming continuation of the current bearish leg.
Alternatively, a sustained move above 0.7065 would neutralize the bearish outlook and expose higher resistance levels at 0.7080 and 0.7095, signaling a potential short-term reversal.
Trade Setup:
Enter: Short below 0.7065
Stop-Loss (SL): 0.7080
Target A: 0.7015
Target B: 0.7000
