AUD/USD is becoming stale on a ledge

AUD/USD is becoming stale on a ledge

Recommendation:

BUY 0.796

SL 0.7905

TP1 0.802 TP2 0.807

On the daily chart, AUD/USD bulls are trying to resume the uptrend. For that they have to conquer resistance at 0.7960 and return the pair to the short-term rising channel. In such circumstances, advance to 200% target of AB=CD has all chances to continue.

AUD1.png 

On H1, AUD/USD keeps forming corrective pattern “Spike and ledge” on the basis of 1-2-3. A break of resistance at 0.7960 will increase the odds of reaching 88.6% and 113% targets of the Shark.

AUD2.png

aud

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