The pair is greatly influenced by the constant changes in global risk sentiment as well as the policy of the central banks.
AUD/USD is breaking wedges
SELL 0.7320 SL 0.7375 TP1 0.7265 TP2 0.722 TP3 0.7120
BUY 0.7470 SL 0.7415 TP1 0.7540 TP2 0.7640 TP3 0.776
On the daily chart of AUD/USD, the attempt of bulls to trigger a “Bat” pattern and lead the pair out of the downtrend channel failed. Bulls seized the initiative and will try to take a cue from the triangle and trigger the AB=CD pattern.
On H1 of AUD/USD, bears want to finish formation of a violet “Broadening wedge” pattern and resume the downtrend. Bulls, on the other hand, are still hoping to form the red “Broadening wedge”.
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...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...