AUDUSD RETESTING FEBRUARY LOWS

AUDUSD RETESTING FEBRUARY LOWS

Key Support: 0.7570
Key Resistance: 0.7700 – 0.7750 – 0.7850

The AUDUSD has again rejected the 0.7520 level after dipping almost 300 pips (-3.74%) from March 17 highs and 445 pips (-5.60%) from the February 25th highs.

The AUDUSD is still very much in a big bullish move and this level of support is capping the downside giving us a high probability setup here.

More so because we are trading inside of a wedge and price is about to break to the upside whilst printing heavy bullish divergence.

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Author : Orlando Gutierrez

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