AUD/USD is taming a shark

AUD/USD is taming a shark

Recommendation:

BUY 0.7650

SL 0.7595

TP1 0.7750 TP2 0.7810

On the daily chart, AUD/USD reached an interim high at 88.6% of the junior “Shark” pattern. There may be a pullback to the lower border of the uptrend channel. On the other hand, an advance of resistance at 0.7735-0.7750 will increase the odds of continuation towards 0.7765 (113% target of the junior “Shark” pattern) and 0.7810 (50% of the wave CD of the senior “Shark” pattern).

AUD1.png 

On H1, AUD/USD formed a “Widening wedge”. Pullbacks to supports at 0.7680 and 0.7650 may be used for buying.

AUD2.png

aud

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