Possible "Bullish Shark: pattern seen on AUD/USD daily charts.
The pair has broken below 100-DMA support at 0.7588.
Downside finds major support at 0.7556 (trendline), violation there could see drag till 0.75 levels.
Technical indicators are heavily bearish. We see scope for downside.
Stochs and RSI are biased lower, while MACD line shows a bearish crossover on signal line.
Good to sell on rallies around 0.7580/90, SL: 0.7630, TP: 0.7536/ 0.75
The pair has broken below 100-DMA support at 0.7588.
Downside finds major support at 0.7556 (trendline), violation there could see drag till 0.75 levels.
Technical indicators are heavily bearish. We see scope for downside.
Stochs and RSI are biased lower, while MACD line shows a bearish crossover on signal line.
Good to sell on rallies around 0.7580/90, SL: 0.7630, TP: 0.7536/ 0.75
Comment:
All targets achieved.