AUD/USD: the aussie hunts the Shark

AUD/USD: the aussie hunts the Shark


BUY 0.7435 SL 0.738 TP1 0.7535 TP2 0.7635

SELL 0.733 SL 0.7395 TP1 0.7265 TP2 0.723

On the daily chart of AUD/USD, bulls are trying to counterattack and implement the “Shark” pattern with 88,6% target. To do that, they need to break the resistance at 0.745 and pull the pair out of the downward channel. Conversely, if the pair breaks the June low, risks of an AB=CD pattern’s implementation will increase.


On H1, the 0.733-0.7435 consolidation is forming. An exit from the consolidation will determine the further direction of the pair.



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