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Currency analyst

AUD/USD: Aussie's fate is in the hands of resistance forces

On the AUD/USD daily chart, "bulls" managed to return quotes to their lower boundary of the rising trading channel. Breakout of the diagonal resistance can cause a further rise towards the 0.761 level. In contrast, the rebound with the ensuing successful test of the support at the 0,752 level will open the door for the return to the downtrend.

On the AUD/USD hourly chart, the short-term rising trading channel is formed. A successful attack on its lower boundary near the the 0.751 level will increase the risk of return to AUD/USD September lows, with the subsequent continuation of the decline in the direction of 0,734-0,736.

Recommendation: SELL 0,751 SL 0,7565 TP 0,736

AUD
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