AUD/USD Bullish ZigZag Aiming for Higher Levels

1 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

The AUD/USD is in uptrend and continuation is expected. We should see a bounce from the POC zone.

The POC zone 0.7616-0.7630 is potentially very strong for the bounce. However, the price is still in a retracement and we should see a drop before the next move up. If the bullish trend continues we should see 0.7725 with 0.7761 and 0.7767 being hit. Only below 0.7600 we should expect a deeper correction and a possible reversal.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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