USD/CAD faces some difficulties
USD/CAD formed a “gravestone doji” candlestick on the W1 ahead of the 50-week MA (1.3280). Learn more!
Bears and bulls will fight for AUD/USD
Recommendation:
BUY 0.7215
SL 0.7160
TP1 0.7315 TP2 0.7415 TP3 0.748
On the daily chart, bulls tried to play back the fact that AUD/USD reached 200% target of AB=CD. Their attempt to develop a correction after a pullback form the convergence area led to failure at the resistance of 0.7215. Bears seized the initiative. To continue the decline, the need to pull the Aussie below supports at 0.7105 and 0.6975.
On H1, only another test of resistance at 0.7215 will allow bull to return the initiative and resume the rally towards the target of “Wolfe waves” pattern.
Ivan Karamazov
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