The decision of the Australian central bank pressed the aussie down. How to trade it now?
AUD/USD is at the crossroads
2019-11-11 • Updated
TP1 0.7725 TP2 0.7650
On the daily chart of AUD/USD, there’s a desperate fighting for 0.7410-0.7460. Bulls are trying to return the pair inside the long-term uptrend, while bears want to return it to the medium-term downtrend.
On H1, the “Shark” pattern is transforming into 5-0. Never the less, a break of resistance at 0.7795 will trigger a “Bat” with a target at 88.6%. Powers of bulls and bears near 0.7765-0.7865 are relatively equal. This increases the possibility of consolidation.
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