It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
AUD/USD: bulls are counterattacking
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.
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.
The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.
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