AUD/USD: aussie is dreaming of the north

AUD/USD: aussie is dreaming of the north

On the AUD/USD daily chart, the bears failed to keep quotes below the important support at 0.7605. As a result, the risks of the transformation of the junior inverted "Shark" pattern into 5-0 have increased. If this happens, the update of the March high followed by the successful test of the resistance at 0.777 will allow us to set 113% target in the "Shark" senior pattern.

 

On the AUD / USD hourly chart,  the expanding wedge pattern has been formed. Rollbacks towards 23,6%, 38,2% and 50% levels from 4-5 wave can be used for the opening of long positions in the direction of 88.6% and 113% targets in the Shark reversal pattern. 

Recommendations: BUY 0,763 SL 0,7575 TP 0,777,

BUY 0,762, SL 0,7565 TP1 0,7695 TP2 0,777. 

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