AUD/USD remains in a bearish trend, with recent price action aligning with technical and fundamental signals. Traders are watching US PPI data today for potential market-moving insights.
Technical Setup Using Smart Money Concepts (SMC) and Fibonacci retracement, the 0.71–0.79 Fibonacci zone stands out as a key resistance level, supported by a Fair Value Gap (FVG) from the last swing high. Price is testing the 50% Fibonacci level, creating an opportunity for a short trade.
Trade Plan
Entry: 0.7120 (near the 0.75 Fibonacci level).
Stop Loss: 0.64729 (above the 0.79 Fibonacci level for risk protection).
Take Profit: 0.63378 (targeting below the Fair Value Gap for a clean exit).
Risk/Reward Insights This setup offers a Risk/Reward Ratio of 1:3, with a risk of 64.7 pips to potentially gain 192.1 pips.
Disclaimer Trading involves significant risk. Always trade with a clear plan, implement stop-loss orders, and never risk more than you can afford to lose. This analysis is not financial advice—trade responsibly and stay informed.
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