AUD/USD: bulls are acting

AUD/USD: bulls are acting

Recommendation:

BUY 0.744

SL 0.7385

TP1 0.7505 TP2 0.754 TP3 0.764

On the daily chart of AUD/USD, bulls still hope to implement the “Wolfe waves” pattern. To succeed, they need to pull the pair out of the downward channel, break the correctional high near 0.7485 and implement the “Bat” pattern with the 88.6% target.

audusd_d.png

On H1, the “Broadening wedge” pattern keeps forming. The break of the resistance at 0.744 will implement the “Shark” pattern with the 113% target. After that, there are risks of the pullback within the 5-0 transformation.

audusd_60.png

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