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AUD/USD: bulls counterattack

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Recommendation:

BUY 0.7850

SL 0.7795

TP1 0.7905 TP2 0.8 TP3 0.8095

On the daily chart of AUD/USD, convergence area of 0.7740-0.7760 became a very hard obstacle for bears. Bulls managed to lead the pair above 50% of the last bullish wave and want to continue the uptrend.

AUD1.png 

On H1, AUD/USD reached the targets of “Three Indians” and 1-2-3. If Aussie quits the descending trend channel, the risks of decline to 88.6% and 161.8% of “Bat” and “Crab” will increase.

AUD2.png

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