AUD/USD: bulls are counterattacking

AUD/USD: bulls are counterattacking

Recommendations:

BUY 0.7475

SL 0.742

TP1 0.7530 TP2 0.7645 TP3 0.776

On the daily chart of AUD/USD, bears tried to break the important support at 0.7362 (78.6% from the upward long-term wave) three times. The failure of bears signals their weakness and lets bulls hope to implement “Wolfe waves” and “Shark” patterns.

audusd_d.png

On H1, the “Broadening wedge” pattern is continuing to form. Pullbacks to 50% and 61.8% from the 4-5 wave could be used to buy.  The break of the resistance at 0.7475 will pull the pair up.

audusd_60.png

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