AUD/USD fell from the ledge
Read the article on FBS website
Recommendations:
SELL 0.7325 SL 0.738 TP1 0.7225 TP2 0.7130
SELL 0.7350 SL 0.7405 TP1 0.7250 TP2 0.7225 TP3 0.7130
On the daily chart, bears managed to pull AUD/USD below the lower consolidation range of 0.732-0.7470 (a ledge) within the “Spike and ledge” pattern. As a result, the risks of the pair going to 113% and 200% targets of the “Double top” and AB=CD increased.
On H1, AUD/USD is forming a “Widening wedge”. Pullbacks towards 23.6%, 38.2% and 50% are usually used for selling.
