Australia Markets open in 8 hrs 32 mins

AUD/USD Bullish Bounce Targeting 0.7245

Nenad Kerkez

Hi traders,

The AUD/USD has formed a bullish zig-zag pattern that is clearly visible with the ascending trend line, rejection candles and upward motion( arrows are trading signals based on CAMMACD method).

The AUD/USD could bounce from 0.7165-75 POC zone targeting 0.7203, 0.7230 and eventually 0.7245. However, the ATR of the pair is low so it might need some time for a trade to develop. However, pay attention to a possible bounce. Ideally, the bounce should be consistent and the pair should stay above 0.7150 for uptrend continuation on intraday timeframes.

For more daily wave analysis and updates, sign-up up to our ecs.LIVE channel.

Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

This article was originally posted on FX Empire

More From FXEMPIRE: