Recently, the AUD/USD pair has been trading sideways at the price of 0.7080. Anyway, according to the H1 time – frame, I have found a potential double bottom pattern in progress, which is a sign that selling looks risky. The key support at the price of 0.7055 held successfully, which also indicates strength. I have also found the hidden bullish divergence on the MACD oscillator, which is another sign of strength. Watch for buying opportunities. The upward targets are set at the price of 0.7100 and at the price of 0.7123.
The material has been provided by InstaForex Company – www.instaforex.com
Recently, the AUD/USD pair has been trading sideways at the price of 0.7080. Anyway, according to the H1 time – frame, I have found a potential double bottom pattern in progress, which is a sign that selling looks risky. The key support at the price of 0.7055 held successfully, which also indicates strength. I have also found the hidden bullish divergence on the MACD oscillator, which is another sign of strength. Watch for buying opportunities. The upward targets are set at the price of 0.7100 and at the price of 0.7123.
The material has been provided by InstaForex Company – www.instaforex.com
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