KaltoireCapital

AUD/USD 180 pips profit booked from sell, time for pullback?

FX:AUDUSD   Australischer Dollar/U.S. Dollar
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.
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