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AUD/USD: Potential Bull Flag Forming

Published 01/21/2019, 06:38 AM
EUR/USD
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USD/CHF
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AUD/USD
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We take a look at the daily charts of EUR/USD, USD/CHF and AUD/USD to highlight key levels and patterns.

EUR/USD Daily

  • After failing to hold above 1.15, the euro appears to be forming a corrective channel.
  • Trading near the lower boundary of the channel, it could provide the opportunity to buy above support.
  • Until a clear breakout is seen, range trading strategies are preferred.

EUR/USD Daily Chart

USD/CHF Daily

  • Prices broke out of a corrective channel, in line with the long-term bullish trend.
  • Look for prices to consolidate or retrace before it resumes the rally.
  • Parity and the 1.0009 high make a likely interim target, before heading for the 1.0129 high.

USD/CHF Daily Chart

AUD/USD Daily

  • A potential bull flag is forming.
  • The 20-day exponential average is providing dynamic support.
  • Use a break of the 0.7247 high to confirm a breakout. However, if bearish momentum returns it takes us back in line with the longer-term bearish trend.

AUD/USD Daily

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