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AUD/USD - Bullish Bat + Resistance
Australian Dollar / U.S. Dollar
Long
AUD/USD - Bullish Bat + Resistance
By cdschultheis15
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Mar 16, 2017
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Mar 16, 2017
Today, we are looking at a bullish bat pattern on the 4H chart with the AUD/USD.
After the interest rate increase from the FOMC, price has reached C point.
With price getting close to the strong resistance zone, we can expect a reversal back down towards D point.
The measurements for a valid bat pattern are detailed below.
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
Final X to D: 0.886
AUDUSD
Bat
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