Technical analysis of AUD/USD for May 16, 2018


If we look at the 4-hour chart, the AUD/USD pair is already in the bearish bias. Now after the Stochastic Oscillator reached the oversold level and is back upward again, this pair is forming an harmonic pattern by points X,A,B,C. Now they want to try to make a D point level, as long point A is not violated by this pair in a few days. The AUD/USD pair is going to reach the upward target between 0.7568-0.7610.

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