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Forex: AUD/USD Breakout Prone, Looking for a Catalyst

Forex: AUD/USD Breakout Prone, Looking for a Catalyst

John Kicklighter, Chief Strategist

AUDUSD finds itself in a technical pattern that essentially has to resolve with a breakout in the near future. However, the catalyst and follow through required on such a setup present a situation where this high pressure breakout is unlikely to evolve into a lasting trend until after the weekend. A clear commitment to risk trends is a ingredient that is critically absent while many pairs - EURUSD, NZDUSD, USDJPY, EURJPY and many others - present extremely attractive technical setups. In today's video, we look over these patterns and discuss the crucial piece of the puzzle: risk trends.

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