The decision of the Australian central bank pressed the aussie down. How to trade it now?
AUD/USD: bulls return to the game
2019-11-11 • Updated
TP1 0.775 TP2 0.7895
On the daily chart, AUD/USD bulls managed to keep the pair inside the long-term uptrend channel. A break of the upper border of the medium-term descending channel with the following successful test of resistance at 0.7637 will increase the risks of correction to the medium-term bearish trend.
On H1, AUD/USD formed a “Dragon” pattern. A successful test of resistance at 0.7636-0.7639 will finish the formation of “Dragon’s head” and will be a signal for opening long positions.
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