AUD/USD: uncertainties around the AUD

AUD/USD: uncertainties around the AUD

Recommendation:

BUY 0.716 SL 0.7105 TP1 0.726 TP2 0.7325 TP3 0.7415

SELL 0.704 SL 0.7095 TP1 0.6975 TP2 0.6875 TP3 0.683

On the daily chart of AUD/USD, bulls and bears are fighting for the 78.6% level of the long-term upward wave. If bulls succeed, odds that the pair will break above the upper boundary of the downward channel and reach targets of the “Shark” pattern will increase. Vice versa, if bears are stronger, the pair will move down.

audusd_d.png

On H1, there is a consolidation of 0.704-0.716 within the “Broadening wedge” pattern.  A break of its upper boundary will increase odds of “Shark” and “Wolfe waves” patterns’ implementation.

audusd_60.png

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