Forex Forecasts: AUDUSD a strong opportunity to sell
Updated
The Australian dollar pair continued its rise to July 2018 levels, taking advantage of the great weakness of the US dollar and the recovery of commodity currencies, either as a result of the positive economic news from China, or whether it is near agreement on the US stimulus package.
Technically, the pair reached the upper bound of the ascending channel with strong momentum, but it failed to breach the ascending channel which its as it is a good opportunity to sell, and what supports the selling hypothesis is that the pair reached the upper bound of the channel and the formation of the abcd sell harmonic pattern. The selling target will be the lower bound of the ascending channel at 0.7400.
Technically, the pair reached the upper bound of the ascending channel with strong momentum, but it failed to breach the ascending channel which its as it is a good opportunity to sell, and what supports the selling hypothesis is that the pair reached the upper bound of the channel and the formation of the abcd sell harmonic pattern. The selling target will be the lower bound of the ascending channel at 0.7400.
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