AUD/USD: the "Australian" approached Rubicon

AUD/USD: the "Australian" approached Rubicon

Recommendations:

SELL 0.7475 SL 0.753 TP1 0.741 TP2 0.734

BUY 0.7545 SL 0.749 TP1 0.7635 TP2 0.7745 TP3 0.7815

On the daily chart of AUD/USD, after the pair reached the 161.8% target of the “AB=CD” pattern, it started consolidating within 0.7465-0.7565. The break of its bottom line will let bears continue the sharp decline to 200%, 224%, and 261.8% targets.

audusd_d.png

On H1, there is an implementation of the “Spike and ledge” pattern within the correction to the downtrend. A successful break of the upper boundary of the 0.75-0.7545 consolidation will increase risks of the pullback.

audusd_60.png

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