AUD/USD is tired of a cage

AUD/USD is tired of a cage

2019-11-11 • Updated

Recommendations:

SELL 0.7895 SL 0.795 TP 0.7795

BUY 0.7985 SL 0.793 TP1 0.8055 TP2 0.8095 TP3 0.8185

On the daily chart of AUD/USD, bulls didn’t manage to overcome an important resistance level of 0.7985. As a result, the pair consolidated in the 0.7895-0.7985 area. When the pair gets out of this range, this will determine the further fate of the Aussie.

AUD1.png  

On H1, a break of support at 0.7895 will trigger the “Shark” pattern with a target at 88.6%. On the other hand, successful test of resistance at 0.7985 will increase the risks of a rally. Don’t exclude the possibility of a “Widening wedge”.

AUD2.png

Similar

AUD/USD  is looking badly
AUD/USD is looking badly

AUD/USD began the week slightly higher reaching as high as 0.7725 before declining earlier today to 0.7690’s.

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