traderpulse
Long

AUD/USD Technical analysis

FX:AUDUSD   Australian Dollar / U.S. Dollar
The counter saw two critical events back to back - The Australian election and the RBA minutes.
Both presented diverged trade ideas and the market embraced with open heart.
The gap up move which failed to hold the momentum amid RBA minutes has fallen back to its lows.
And the setup is likely a Bullish Bat pattern.
The stochastic indicator has flattened at the oversold zone.
We feel that there is still room for upside correction in the counter.
And we expect the counter to move towards a safe target of 0.69037 for now.
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