AUD/USD has been ranging for some time now and has now reached back to a sell zone. the reason I am bearish on this currency pair is because this ranging structure is still relatively new and the longer something ranges the higher a chance it has of breaking out at a major level so we shouldn't have to worry about any breakouts occurring in the opposite direction if you look at my page you will notice that that a rising wedge pattern has formed on this pair which indicates bearish momentum that could occur soon. if you have any feedback/ constructive criticism please feel free to write what you have to say. good luck !
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.