Currency analyst

AUD/USD: Aussie is ready to go up

On the AUD/USD daily chart, quotes are moving within the medium-term rising channel. At the end of the last week, the "bulls" failed to break through the 0.767 resistance line. However, if they manage to do so in the future, the upward trend will continue up to the 0,78 level. There is a Target 113% of the Shark reversal pattern. Alternatively, if the buyers fail to keep the quotes below the 0.761 support line, the Australian dollar may fall down to the 0,752 level.

On the AUD/USD hourly chart, the breakout of the 0,767resistance line will become the signal of the end of the downward short-term trend. 

Recommendation: BUY 0,767 SL 0,7615 TP 0,78.


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