AUD/USD has been trying to break higher for an extended period but without any chance. From April until today, all rallies’ attempts have faded as shown on the daily chart.
AUD/USD: upward correction is underway
2019-11-11 • Updated
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.
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