AUD/USD: let's buy the AUD

AUD/USD: let's buy the AUD

2019-11-11 • Updated

Recommendation:

BUY 0.715

SL 0.7095

TP1 0.724 TP2 0.727 TP3 0.734

On the daily chart of AUD/USD, bulls have been trying to implement the “Shark” pattern and pull the pair to its 88.6% target. At first, they need to break the resistance at 0.7107 (78.6% from the long-term upward wave) and pull the pair out of the downward channel.

audusd_d.png

On H1, there is the “Three Indians” reversal pattern. If the pair breaks the resistance at 0.715, the “Shark” pattern will be implemented. Its 88.6% and 113% targets are at 0.727 and 0.734 respectively.

audusd_60.png

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