AUDUSD is trading in a sharp bullish trend.
I know that many traders are looking for a pullback because the pair is way overbought.
However, be very careful.
Here are the closest key levels that I identified on a weekly chart:
Support 1 - 0.73 - 0.745 (based on a local year's daily high and 2015th - 2018th price action)
Resistance 1 - 0.77 - 0.78 (based on 2016th-2017th price action)
Resistance 2 - 0.81 (based on 2015th - 2018th price action)
As you can see current spot prices are way too far from identified key levels.
I would recommend to stay away from trading AUDUSD until the underlined key levels are reached.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.