AUDUSD: Key Levels to Watch 🇦🇺🇺🇸

17 May 2022

Hey traders,

AUDUSD is nicely recovering after a strong bearish rally.

Here are key levels for you to watch on the pair:

Support 1:
The price is taking off from a major falling trend line matching the lower lows on a daily.
For now, it is the closest key support to watch.

Resistance 1: 0.703 - 0.7055
Resistance 2: 0.7255 - 0.727
Resistance 3: 0.734 - 0.7366
Resistance 4: 0.744 - 0.749
Resistance 5: 0.7654 - 0.766

Consider these key levels for potential buying/selling opportunities.
Once one of the key structures is reached, wait for a confirmation before you open a trading position.

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