• Vasily Trader

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.