Currency analyst

AUD/USD: Aussie is wandering in trade channels

On the AUD/USD daily chart, Target 0.7525 has been fulfilled. Quotes rebounded from the lower boundaries of the long-term upward and short-term downward trade channels. Successful retest of the support line at 0.7521 might cause the Australian dollar to fall in the direction of 0.745. On the contrary, a successful test of the 0.7627 resistance line can restore the upward trade channel. 

On the AUD/USD hourly chart, after "Head and shoulders" and AB=CD patterns had been realised, the quotes went out from the downward trade channel. If "bulls" break out the resistance line at 0.7627. the pair will move towards 0.771. 


Recommendation: BUY 0,7627 SL 0,7572 TP 0,771


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