AUD/USD Marubozu Candles Target 0.7210

2 min read
tarantula fx

tarantula fx

Head of Trading

Hi traders,
The AUD/USD has made a switch from downtrend to uptrend on Friday and we see that the price has been bought on dips ever since.

The POC zone 0.7140-55 should provide a bounce towards higher levels. We can see a confluence of price action factors including T-89 and Marubozu candles. If bullish momentum persists we should see 0.7180 followed by 0.7200 and 0.7210 that is the final price projection in the pair. At this point we also see a cup with handle bullish pattern on the intraday chart (H1) so this could also be a cue that the price wants to go up. Ideally the price should stay capped above 0.7120 for the uptrend to continue.

The analysis has been done with the CAMMACD.MTF template.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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