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AUD/USD- Bullish Pattern Pushing The Pair Up

Published 04/01/2014, 06:33 AM
Updated 02/02/2022, 05:40 AM

The AUD/USD pair is trading in a strong uptrend on a daily time frame. The pair has recently broken its bullish pattern- A reverse Head & Shoulder pattern. The head and shoulder patterns are the most powerful patterns and they usually complete their projections. The projection of this pattern could easily take the price near the resistance level which is mentioned below.

The RSI is also trading in line with the price action which means that the bias could be to the upside.

Important Zones

AUD/USD
Resistance Zones

0.9451-0.9389 Minor

Support Zones

0.8766-0.8667

Disclosure & Disclaimer:

The above is for informational purposes only and NOT to be construed as specific trading advice. responsibility for trade decisions is solely with the reader. by Naeem Aslam AUD/USD

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