We broke out of the ascending triangle
) however, you can see we have also now broken out of this falling wedge
pattern ( bullish
) and now creeping back up towards the ascending triangle
(Busted Ascending triangle
Pattern Bulkowski). There will be strong resistance around the 1.60 - 1.65 $ region, but strong buying volume
will lead us back into the triangle and hopefully a breakout to start targeting fib levels of 1.69, 1.81 and importantly the psychological resistance of 2.00 $. Furthermore, failure to keep support above the 1.43 will bring us down to 1.32 where there is strong support.
is showing some bullish
strength. However, the RSI
does look like its approaching some sort of resistance on the short term.