AUD/USD: the aussie gains back its strength

AUD/USD: the aussie gains back its strength

2019-11-11 • Updated


BUY 0.724 SL 0.7185 TP1 0.731 TP2 0.7345 TP3 0.7370

On the daily chart of AUD/USD, bears managed to move the pair out of the upward channel. They plan to continue moving towards the 88.6% target of the "Shark" pattern. Bulls need to break the resistance at 0.7270 to take control over the situation. 


On H1, the implementation of the junior "Shark" pattern's 88.6% target increases the risks of the reversal towards 23.6%, 38.2% and 50% of the CD wave. On the other hand, if the targets of the senior "Shark" pattern are reached, the pair will fall further.



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