AUD/USD: bears left their lair

AUD/USD: bears left their lair

Recommendation:

SELL 0.8025

SL 0.808 TP1 0.794

TP2 0.789

On the daily chart, the inability of bulls to push the pair out of the uptrend channel and formation of the bar with a long upper wick points at their weakness. It strengthens the risks of correction at least to 0.7937-0.7954.

AUD1.png 

On H1, AUD/USD reached the targets of “Widening wedge”, “3 Indians” and 1-2-3. The break of support at 0.8028 and the pair’s leaving the uptrend channel will increase the risks of the pair reaching 88.6% target of the Shark pattern.

AUD2.png

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