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Currency analyst

AUD/USD met Three Indians

On the daily AUD/USD chart the pair formed "Three Indians" pattern. A pin bar appeared in the area of the third top, it's lower border is close to 78.6% Fibo of the last bullish wave. If the bears manage to hold the pair below 0.7688, risks of decline to 0.7570 will increase.  

On H1 AUD/USD chart sellers are trying to pull the pair below support at 0.7676. It corresponds to the lower border of the uptrend channel. Successful test will make the pair decline to 0.7717-0.7627 (88.6% target of the "Shark" pattern + 38.2% Fibo of the last descending wave) and 0.7587 (50%). The nearest resistance levels are at 0.7723 and 0.7750.  

  

 

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