AUD/USD: bulls loosened their grip

AUD/USD: bulls loosened their grip


BUY 0.7895

SL 0.7840

TP1 0.7990 TP2 0.8050 TP3 0.8125

On the daily chart, AUD/USD is fighting for an important level – 78.6% of the wave CD of the 5-0 pattern. The necessary condition for an uptrend’s resumption is a confident advance above resistance at 0.8050. As long as the pair keeps trading above 0.7885-0.7895, bulls remain in control. 


On H1, there’s a “Spike and reversal with acceleration” pattern. The pullback from the lower border of the uptrend’s channel and supports at 0.7895 and 0.7870 will allow speaking about the end of correction.




USD/JPY took a blow

USD/JPY formed a big bearish candlestick yesterday that almost engulfed the previous bullish one.

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