AUD/USD: Bearish Momentum Continues – Targeting Lower Supports Intraday

Technical Outlook: The Bearish Path for AUD/USD

Good morning from Izmir. Let's talk about AUD/USD, which continues to show compelling signs of weakness. We've seen a significant push lower, with the pair currently trading at 0.64961, reflecting a 24-hour change of -0.00239 (-0.37%). The overarching trend remains distinctly bearish, and the recent price action within the day range of 0.64602 to 0.6532 reinforces this sentiment.
From a technical standpoint, I'm looking for a short entry around 0.65076. This level aligns with a retest of what appears to be a broken support now acting as resistance, a common area for institutional order flow to re-engage. We've seen resistance hold firmly around 0.6532, and any move towards 0.655 or even 0.66 would be a clear invalidation of the current downside structure. The data is compelling: the market is struggling to reclaim higher ground, suggesting further depreciation is on the cards.

Trade Setup: Targeting Deeper Support

My intraday trade setup for AUD/USD is a short position. My entry is set at 0.65076, aiming to capitalize on the rejection from this critical resistance area. I'm placing my stop loss at 0.6565. This level is strategically positioned above the 0.655 resistance, giving the trade room to breathe while protecting capital if the market unexpectedly reverses and breaks above key overhead barriers.
On the downside, I am targeting a take profit at 0.63927. This level is well below the immediate support at 0.646 and the psychological level of 0.64, indicating a strong move lower. Fundamentally, global risk