Currency analyst

AUD/USD: bears have control

AUD/USD has reached targets of "Three Indians" pattern. The break below the lower border of the bullish channel  means that bears have seized the initiative. The buyers manages to find some support at 0.752, but if the pair falls to yesterday's minimum, this will increase risks of decline to 0.744-0.7450.

On H1 AUD/USD is moving within descending trend channel. It means that bears remain in control. The targets of the downtrend are at 0.7490 and 0.7550. The nearest resistance is at 0.755 and 0.7590.


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