AUD/USD: bulls clutch at a straw

AUD/USD: bulls clutch at a straw

Recommendation:

BUY 0.7640

SL 0.7585

TP1 0.7750 TP2 0.7895

On the daily chart, AUD/USD keeps fighting for the lower border of a long-term uptrend channel. If bulls fail to hold it, the risks of realization of 88.6% target of the senior “Shark” pattern will increase. On the other hand, a break of resistance at 0.7637-0.7640 will trigger the junior “Shark”.

AUD1.png 

On H1, AUD/USD after reaching 78.6% target of a “Shark” pulled back to 88.6%. The second attack of resistance at 0.7635 in case of success will allow bulls to count on the continuation of the rally.

AUD2.png

aud

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