As you see in the daily chart of AUDUSD , there was an uptrend but price has been bouncing for a long time in a symmetrical triangle pattern which can be broken out to any side.
In H1, there is more downside pressure and a bearish flag pattern has been created.
On the other hand, price is still in the symmetrical triangle and we should wait for the breakout to see what is the next move.
Currently, in the case of flag’s downside breakout, I expect a fall in price to 0.7650 which is one of the daily support levels.
In H1, there is more downside pressure and a bearish flag pattern has been created.
On the other hand, price is still in the symmetrical triangle and we should wait for the breakout to see what is the next move.
Currently, in the case of flag’s downside breakout, I expect a fall in price to 0.7650 which is one of the daily support levels.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.