AUD/USD: Bulls don’t believe in their strength

AUD/USD: Bulls don’t believe in their strength

2019-11-11 • Updated

On the AUD/USD daily chart, there is a consolidation in the range of 0.7575 – 0.7635 within the correction towards the upward near-term trend. To restore the uptrend, the Bulls need to meet the following conditions: to test the resistance at 0.7635 and to return quotes within the borders of the upward trading channel.


On the AUD/USD hourly chart, the failure of the Bulls to test the resistance at 0.7675 – 0.768 might lead to the formation of the Head and Shoulders pattern. For its realization, a downfall of quotes below the supports at 0.7575 – 0.758 is needed.



Worst Awaits Risk Assets in September
Worst Awaits Risk Assets in September

The Crypto market usually also has a rough time in September. Bitcoin lost 12.7% in September 2021, 17.4% in 2020, 17.5% in 2018, 21.4% in 2017 and 45.4% in 2015. The main cryptocurrency increased by 13.3% and 3.95% in 2016 and 2019, respectively.

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