AUD/USD: the AUD left the downward channel

AUD/USD: the AUD left the downward channel

Recommendations:

BUY 0.715 SL 0.7095 TP1 0.725 TP2 0.7275 TP3 0.7335

BUY 0.726 SL 0.7205 TP1 0.7335 TP2 0.738 TP3 0.748

On the daily chart of AUD/USD, the pair managed to leave the downward channel.  To continue the upward movement to the 88.6% target of the “Shark” pattern, bulls need to break above the November high.  

audusd_d.png

On H1, the pair reached targets of the “Three Indians” pattern. A rebound from the support at 0.715 or a break of the resistance at  0.726 will let bulls continue the rally to 88.6% and 113% patterns of the “Shark”.

audusd_60.png

Similar

CAD/JPY turned down

CAD/JPY recovered last week to the 78.00 area (38.2% Fibonacci of the February-March decline), but then turned down again getting back below the 50-period MA on the H4.

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