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AUDUSD: Important Breakout & Key Levels to Watch



AUDUSD broke and closed above a resistance line of a major falling parallel channel on a daily.

With a consequent retest and positive bullish reaction, it looks like a bullish continuation will continue.


Here are the key levels to watch on AUDUSD:


Resistance 1:

0.74 - 0.743 supply area


Resistance 2:

0.759 - 0.762 supply area


Closest support - broken resistance of the channel.


If you missed a long opportunity,

consider the occasional retest of the broken channel.


For a pullback trade, let the price reach resistance 1 first.

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