AUD/USD: 2 possibilities
Read the article on FBS website
Recommendations:
BUY 0.7715 SL 0.766 TP1 0.7815 TP2 0.789 TP3 0.7985
SELL 0.7635 SL 0.7690 TP1 0.7570 TP2 0.7535 TP3 0.7500
On the daily chart, AUD/USD pulled back after reaching 127.2% target of AB=CD. The pair formed a pin bar. If it’s fulfillment is followed by the successful test of support at 0.7635-0.7640 will increase the risks of decline.
On H1, AUD/USD formed “Wolfe waves” pattern. To trigger it, bulls need to overcome resistance at 0.7707-0.7715. On the other hand, decline to March low will open the way down.
