Aussie setting up for CwH rebound

For the past several months the Australian dollar / U.S. dollar forex pair has been painting a model Cup-with-Handle pattern. The pattern isn't done forming yet, but if AUDUSD breaks above the handle channel, we expect it to advance nicely.

Order cancelled:

Once the handle goes past 50% of the distance from the rim to the bottom, the pattern fails. Better, most likely, to look for a Fibonacci or harmonic setup.