FX:AUDUSD   Australian Dollar / U.S. Dollar
We know the Aussie has been building a very wide pennant on the weekly chart, looking like a bullish chart. On a closer look, it seems that we may break to the upside, especially as the USD may continue lower. If we see a breakout, our first target can be previous resistance at 1.06.

However, if we do not breakout yet, we can see price reacting to current resistance and potentially reaching the 200ma at around 1.03 area.

Note: the forecasts are not necessarily time-sensitive.


Update: I've taken a long position, after my previously failed attempt at a short. Note how I said I felt the short wasn't going anywhere. My first target on this is currently at 1.055
I've cut the short position...wasn't going anywhere with it.
Update: I've taken a short position.
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