On the AUD/USD daily chart, a breakout of the support at 0.7512 (38.2% level of the last upward wave) increases the risks of development of the corrective movement towards 0.7445 and 0.7375.
For this to happen, the bears need to keep quotes below the important level. If they fail to do so, it will lead to the consolidation in the range of 0.75-0.765.
On the AUD/USD hourly chart, there is an implementation of the AB=CD pattern. Its 200% target is located at 0.7445. The nearest resistance levels can be found near 0.7545 and 0.7605. The rollbacks from them will create the prerequisites for opening short positions.
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Recommendations:
SELL 0,7545 SL 0,76 TP 0,7445,
SELL 0,7605 SL 0,766 TP 0,7445.
Origin: FX BAZOOKA
