AUD/USD, trendlines 'play' a key role!
As I wrote in my previous Aussie analysis from April 17., the beauty of the trendlines. Well, you can see that the trendlines are in the main role here at this pair, supporting, resisting, bouncing, rejecting. It’s amaizing how accurate these levels are here, this is why I love technical analysis. Ok, first resistance is placed as before at 0.7800/20, the second one just above at 0.7850, the previous high from April 17. This resistance level in combination with trendline could stop this bullish momentum for a while. On the way back, support is waiting at 0.7730/40 and it should be strong in combination with trendline as well. Great chart.