AUD/USD 180 pips profit booked from sell, time for pullback?
Dear friends, in my previous AUD/USD analysis, I told you to sell at 0.7240
which was the descending trend line resistance( previous idea attached below).
As you can see, AUD/USD dropped exactly from that level I mentioned and gave
use very good profits.
Currently, AUD/USD has reached the 100-day EMA level where it can find some support.
So, there could be some pullback from the current level.
However, it doesn't mean we should buy immediately.
It would be a good idea to wait for some consolidation and bullish price action
at the 0.7050 area before considering buy trades.
Major support lies at the 0.70 level as well.
which was the descending trend line resistance( previous idea attached below).
As you can see, AUD/USD dropped exactly from that level I mentioned and gave
use very good profits.
So, there could be some pullback from the current level.
However, it doesn't mean we should buy immediately.
It would be a good idea to wait for some consolidation and bullish price action
at the 0.7050 area before considering buy trades.
Major support lies at the 0.70 level as well.
