AUD/USD - Ascending triangle break + re-test
- AUD/USD looks to have broken out of an ascending triangle bullish pattern
- We may be retesting the resistance level of the pattern, now as support, prior to a break higher
- If this is the case we would need to see price hold above the mentioned resistance line of the pattern
- If price were to break back down through this level it would be a false break
- If price were to ultimately move further lower and break past the ascending trend-line support,
this would invalidate the pattern and open the doors to further moves lower
THIS IS NOT TRADE ADVICE NOR A TRADE CALL
- We may be retesting the resistance level of the pattern, now as support, prior to a break higher
- If this is the case we would need to see price hold above the mentioned resistance line of the pattern
- If price were to break back down through this level it would be a false break
- If price were to ultimately move further lower and break past the ascending trend-line support,
this would invalidate the pattern and open the doors to further moves lower
THIS IS NOT TRADE ADVICE NOR A TRADE CALL