The decision of the Australian central bank pressed the aussie down. How to trade it now?
AUD/USD: bulls are running away
2019-11-11 • Updated
TP1 0.766 TP2 0.7635 TP3 0.757
On the daily chart of AUD/USD, the inability of bulls to rise above resistance near 0.79 was the first signal of their weakness. The return of the pair inside the downtrend and their exit from the downside channel means that bears seized the initiative.
On H1, the closeness of 113% target of the “Shark” increases the odds of consolidation. Bears are in control of the situation, so the pullbacks may be used for selling.
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