FX:AUDUSD Australian Dollar/U.S. Dollar
The AUD/USD 1H chart is showing a clear example of a breakout, followed by a corrective sequence back to the previous breakout level. In terms of shorter term , the pair is looking very indeed, as illustrated by the fact that the recent big selling candle was the equivalent move of what recently took 6 selling candles to achieve. Therefore, a break of the ascending line will trigger a based short for us.