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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


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

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.