AUD/USD: bulls are running away

AUD/USD: bulls are running away

Recommendation:

SELL 0.774

SL 0.7795

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.

AUD1.png 

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.

AUD2.png

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