AUD/USD: bears made a stop

AUD/USD: bears made a stop

Recommendation:

SELL 0.781 SL 0.7865 TP 0.7725 TP2 0.761

BUY 0.786 SL 0.7805 TP1 0.7915 TP2 0.7935

On the daily chart, AUD/USD reached 88.6% target of the “Bat” pattern. This increases the odds of the pair’s growth. On the other hand, if the Aussie returns to September low the “Bat” will start transforming into “Crab” with the target at 161.8%.

AUD1.png 

On H1, AUD/USD is consolidating within the short-term downtrend. A break of its lower border will allow bears to continue the decline. On the other hand, successful test of resistance at 0.7860 will be a signal for bulls to counterattack.

AUD2.png

aud

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