Currency analyst

AUD/USD looks for a growth driver

AUD/USD tested the lower border of the short-term uptrend on the daily chart with the further recoil to the upside. If the bears find strength for another attack, and succeed, the pair may fall to convergence areas of 0.7405 and 0.7302-0.7342. The lower border of the medium-term bullish channel is nearby.  

On H1 AUD/USD breached above the upper border of the current bullish channel and activated the "Shark" pattern. Its 161.8% target is at 0.7565. A bit higher is the lower border of the bullish channel. The failure at the convergence area will trigger selling.

Recommendation: SELL 0,757 SL 0,767 TP1 0,7405 TP2 0,734.


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