AUD/USD: the aussie strives forward

AUD/USD: the aussie strives forward

Recommendations:

BUY 0.759

SL 0.7535

TP1 0.768 TP2 0.777 TP3 0.7855

On the daily chart of AUD/USD, after the pair reached 88.6% target of the “Shark” pattern, it rebounded to 23.6%, 38.2% and 50% of the CD wave within its transformation to 5-0. To continue the correction, the pair needs to break the upper boundary of the downward channel.  

audusd_d.png

On H1, an exit beyond the 0.748-0.799 consolidation increases risks of the pullback to the downtrend. To recover the trend, bears need to implement the “Broadening wedge” pattern.  

audusd_60.png

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