AUDUSD »» What could be the first breakout?

We'll wait for this wedge pattern breakout first. If it breaks upwards, we will wait to trade from the breakout point or re-test area. And when the price moves closer to the resistance trade line i.e. 0.72 or 0.776, then if one confirms bearish movement then we will keep the target down to the support area (green box). If there is no price bounce in this area then we can see the price above 0.69 in the future as per the previous analysis. And if the audusd pair bounces back from the support area, the upper white trendline resistance area will take a breakout and there will be a big bullish price in the future (expect 0.75/0.79).

💁 Previous AUDUSD Analysis Chart


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