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AUD/USD: 'V-Bottom' pattern

AUD/USD: 'V-Bottom' pattern

Information is not investment advice

The main trend is still bearish. Currently, the market is under the Moving Averages, but there's a 'V-Bottom' pattern. Thus, it's likely that the pair is going to touch the previously tested resistance at 0.7131. If a pullback from this level happens next, there'll be a green light for another decline in the direction of the nearest important support at 0.7069 - 0.7063.

8-4-2019-AUD-USD-H4.png

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USD/CHF formed a “hammer” candlestick on the D1. The most recent price low wasn’t confirmed by the Awesome Oscillator on this timeframe.

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