Get started
IlyaSpivak

AUDUSD wedge and range floor break may bring deeper drop

Short
Australian Dollar / U.S. Dollar (FX_IDC:AUDUSD)  
IlyaSpivak  
FX_IDC:AUDUSD   Australian Dollar / U.S. Dollar
Wedge Support and Resistance Head and Shoulders AUDUSD rangebreakout
4
1
wedgepattern supportandresistance headandshoulders audusd rangebreakout
AUDUSD is breaking through range support after completing a bearish Rising Wedge pattern, suggesting that the downtrend may be accelerating anew. Support in the 0.7222-44 zone is now in focus. A break below that puts into view the measured-move objective of a Head and Shoulders topping pattern formed from the start of the year (0.7120-30 zone). The 0.70 figure follows soon thereafter.

Related Ideas

IlyaSpivak
AUDUSD ready to resume decline?
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.