AUD/USD: bulls showed their weakness

AUD/USD: bulls showed their weakness

On the AUD/USD daily chart, the bulls for the second time in the last couple of days tried to push quotes out of the downward trading channel. They failed to do so. Most likely, they fail to implement an inverted Gartley pattern with target 0.7635  too. The fall of the Australian dollar below support at 0.7525 will strengthen the risks of a downtrend restoration.


On the AUD/USD hourly chart, the breakout of the lower border of the upward trading channel will activate the "Crab" pattern. Its target 161.8% is located near 0.774.

Recommendation: SELL 0,7545 SL 0,76 TP1 0,747 TP2 0,741


AUD/USD may fall

If this week the Aussie closes in the negative area, it will continue towards the lower levels in line with the long-term downtrend.

Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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