AUD/USD Forecast: bulls are dreaming of revenge

newzeeland_dollarOn the AUD/USD daily chart, a breakout of the resistance at 0.749 can activate the “Bat” inverted pattern followed by the return of quotes to the lower boundary of the last upward trading channel. There is 88.6% target of the “Bat” pattern.

The outlook for this pair is still “bearish”, so the sales on the rebounds are relevant.

On the AUD/USD hourly chart, quotes are moving within the upward trading channel. The roll back from its upper boundary or unsuccessful test of the resistance at 0.757 (target 161.8% in the AB = CD pattern) will be the signal for the opening short positions.

Recommendations:

SELL 0,7545 SL 0,761 TP 0,74,

SELL 0,757 SL 0,7625 TP 0,75.

Origin: FX BAZOOKA

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