FX:AUDUSD Australian Dollar/U.S. Dollar
We have a false break of the pattern on AUD/USD . First, the price broke below the low of the pattern but then moved back up and closed within the pattern which traps the sellers who sold at the break of the pattern. Note that the and ( ) were both in overbought territory at the time when price broke below the pattern which should lead the price lower but it closed back up leaving a false break here. With all the bears being trapped, we could potentially have some buying opportunities in today's London session.