AUD/USD: Aussie came closer to Rubicon

AUD/USD: Aussie came closer to Rubicon

On the AUD/USD daily chart, bulls managed to push the quotes beyond the downward trading channel and tested the resistance at 0.749. if it is broken successful, the way towards the 0.7525-0.7535 convergence zone will be opened. In contrast, the return of the Australian dollar to support at 0.745 will raise hopes for a downtrend recovery.

On the AUD/USD hourly chart, quotes reached 200%target in the AB = CD pattern. It corresponds to the upper border of the upward trading channel. It may lead to the rollback. To break the downward short-term trend, the resistances at 0.751 and 0.753 levels should be overcome.

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