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.
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Many green pips,
Nenad Kerkez aka Tarantula FX
This article was originally posted on FX Empire
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