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thedailychartist

AUDUSD potential wedge top to break lower to target 0.7223?

Australian Dollar / U.S. Dollar (FX:AUDUSD)  
thedailychartist Updated   
FX:AUDUSD   Australian Dollar / U.S. Dollar
Chart Patterns AUDUSD breakoutsetup wedgebreakout pricemagnet
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chartpattern audusd breakoutsetup wedgebreakout pricemagnet
Currently still testing resistance at 0.7385. Pair may be looking at 0.7223 as a possible price magnet so watching out for a break lower (0.7325) as I indicated in a related post (see link below). This is a short-term setup as I am still bullish overall, especially if market breaks 0.7385-0.7400 on a daily closing level. Alternatively, waiting for a buy setup at 0.7325 is also reasonable rather than shorting.

Comment:
Here's how the 4HR chart is looking:

snapshot

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