AUD/USD – Compressed to Impress
Chart Prepared by Jamie Saettele, CMT
-AUD/USD has been threatening to break out since August. Price action since early 2015 is viewed as a rounding bottom and pattern since August takes the form of an inverse head and shoulders pattern that could launch a major advance. The 3 month range is historically compressed and similar previous range readings tend to precede substantial directional moves.
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