Currency analyst

AUD/USD: will bears find strength to attack?

On the daily AUD/USD chart the pair is moving within uptrend channel. The market's sentiment will remain bullish as long as the pair's trading above support at 0.7570 (61.8% Fibo of the last descending wave).

On H1 AUD/USD is trading near 78.6% Fibo of the last descending wave. If the bears manage to hold the quotes below resistance in the 0.7622-0.7627 area, then further decline to the 0.757-0.7579 convergence area (lower border of an uptrend+61,8% Fibo of the last bearish wave + daily support) will activate the "Shark" pattern. Its 88.6% is near 0.75.


Scroll to top