Australian Dollar Short Term Triangle Breakout
60 Minute Bars
Prepared by Jamie Saettele, CMT
The AUDUSD has broken through the channel that defines the decline from the August high (and the 200 day average). Focus shifts higher towards the early September pivot low at 10480 although it is worth noting that the 61.8% retracement of the decline from 11081 is at 10434. The latest AUDUSD rally appears to be from a triangle. Triangles are terminal thus the resolution of the pattern completes a larger move and gives way to a reversal.
Trend Strength (M,W,D) – (1), 0, 1
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