AUDUSD has formed a falling wedge on the 4h chart which implies a breakout to the upside, however, today's CPI will have an impact on whether we go lower first before the breakout.
There is a chance AUDUSD may touch 0.62 first before the bounce up and in this case, the next resistance is at 0.6355 (white zone).
If a breakout does occur in the short-term, the next target to the upside will be the 0.64 resistance zone (blue zone).
There is a chance AUDUSD may touch 0.62 first before the bounce up and in this case, the next resistance is at 0.6355 (white zone).
If a breakout does occur in the short-term, the next target to the upside will be the 0.64 resistance zone (blue zone).
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Disclaimer
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.