Is the AUDUSD about to resume the uptrend?
Looks like the AUDUSD is testing first key support and resumption level following the earlier multi-year bullish breakout of the triangle pattern. 0.7800 level is the prior swing low and could signal the end of the pullback. As triangle breakouts are usually followed by a pullback phase before resumption of the initial breakout.
If we break this support we will most likely test 0.7700 areas, where it will be the second potential resumption level.
Personally, I have chosen to speculate on the bullish resumption scenario from 0.7808. Looking for a first target at 0.8060.
Best
Technician
If we break this support we will most likely test 0.7700 areas, where it will be the second potential resumption level.
Personally, I have chosen to speculate on the bullish resumption scenario from 0.7808. Looking for a first target at 0.8060.
Best
Technician
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