AUD/USD has been trying to break higher for an extended period but without any chance. From April until today, all rallies’ attempts have faded as shown on the daily chart.
AUD/USD: confirmed 'V-Bottom' pattern
2019-11-11 • Updated
Bears faced with support at 0.6864 last Friday, so the price is consolidating. Also, there's a 'V-Bottom' pattern, which has been confirmed. Thus, it's likely that the market is going to test the nearest resistance at 0.6936 - 0.6962 in the short term. If a pullback from this area happens little later on, there'll be a green light for another decline towards the next support at 0.6891 - 0.6864.
Bullish Scenario: Buys above 17910 with TP:18098.07, TP2:18277, and TP3: 18415 Bearish Scenario: Sells below 17850 with TP1:17730, TP2: 17700
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