Currency analyst

AUD/USD is feeling giddy

On the daily AUD/USD the attempt of the bulls to restore the uptrend has failed. The pair formed a combination of "3 Indians" model and 1-2-3. This formation points at the high possibility of a reversal. The break of support at 0.7470 (38.2% Fibonacci of the last bullish wave and the lower border of the uptrend channel) may be a signal for opening short positions.


On H1 successful test of the upper border of the uptrend channel and the further decline of the quotes below the local low at 0.7480 will activate the "Shark" pattern. Its 88,6% target is near 0.7435.

Recommendation: SELL 0.747 SL 0.757 TP1 0.734 TP2 0.725.

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