Daily
Chart Prepared by Jamie Saettele, CMT
DailyFX Trading Guides and Forecasts
-Recent comments noted that “AUD/USD price action since Brexit has been choppy and consists of overlapping waves. That alone suggests that we may be dealing with a triangle. Triangle barriers are near closing extremes of .7460 and .7700. A break of one of these levels should open the door for a directional move.” AUD/USD took out .7700 on the Wednesday close but gave up most of the week’s gains today. The proposed right shoulder low at .7505 is invalidation for the bulls.
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