AUDUSD Trade Idea

In yesterday's analysis, I discussed about the long opportunity if price rejects off 0.7740 key support zone for further bullish continuation with 0.7820 zone as target, which was exactly what the market performed. I noticed that AU is currently forming a steep trendline (parabolic movement), which is usually an alert for us to be extra cautious as the crowd is chasing it. Personally, will be looking for short-term selling opportunities after a third rejection at 0.7820 zone back towards 0.7740 support zone due to its current overbought condition. However, if price breaks above yesterday's high, will be looking for short-term long opportunities with a break & re-test setup.

Trade safe.

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