AUD/USD: upward correction is underway

AUD/USD: upward correction is underway

The last 'V-Bottom' pattern led to the beginning of the current upward correction. At the same time, there's a 'Thorn' pattern, so we could have a local downward correction in the coming hours. Thus, the market is likely going to test the closest support at 0.7022. This level could be a departure point for a bullish price movement towards another resistance at 0.7071 - 0.7086.

29-4-2019-AUD-USD-H4.png

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After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

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