Aussie forms bearish shark pattern,decline till 0.725 is possibl
Harmonic Pattern – Bearish shark pattern
Aussie recovered till 0.74275 and has retreated from that level. Overall trend is weak as long as resistance 0.7435 holds.
On the higher side any break above 0.7435 would extend gains till 0.7475/0.7500 in short term.
Overall bearish invalidation only above 0.7500 level.
The pair’s short term support is around 0.7325 and indicative break below will target 0.7280/0.7250/0.7230.
It is good to sell on rallies around 0.7360-65 with SL around 0.7435 for the TP of 0.7250/0.7230.
Aussie recovered till 0.74275 and has retreated from that level. Overall trend is weak as long as resistance 0.7435 holds.
On the higher side any break above 0.7435 would extend gains till 0.7475/0.7500 in short term.
Overall bearish invalidation only above 0.7500 level.
The pair’s short term support is around 0.7325 and indicative break below will target 0.7280/0.7250/0.7230.
It is good to sell on rallies around 0.7360-65 with SL around 0.7435 for the TP of 0.7250/0.7230.