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AUD/USD – Maybe the 8th Breakout Attempt Will Work

AUD/USD – Maybe the 8th Breakout Attempt Will Work

Jamie Saettele, CMT, Sr. Technical Strategist

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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.” The proposed right shoulder low at .7505 is invalidation for the bulls.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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