The decision of the Australian central bank pressed the aussie down. How to trade it now?
AUD/USD: will Aussie make a stop?
2019-11-11 • Updated
SELL 0.7810 SL 0.7865 TP1 0.7735 TP2 0.768
BUY 0.7900 SL 0.7845 TP1 0.7990 TP2 0.8050 TP3 0.8120
On the daily chart, AUD/USD bulls want to resume the uptrend. To do it, they need to conquer resistance at 0.7885-0.7895. On the other hand, the inability of buyers to push the pair above support at 0.7810 will increase the odds of triggering 5-0 pattern.
On H1, bulls took the initiative after AUD/USD formed a “Widening wedge”. At the same time, a decline below 0.7812 will create grounds for correction.
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