Fxprotrader

AUDUSD Two Possible Setups Ahead

FX:AUDUSD   Australian Dollar / U.S. Dollar
183 0 15
Price is testing the upper trendline of a rising channel where we will soon have a setup we may get involved with. The most possible scenario is that pice will drop from this level as we have a MACD divergence showing that this up move is losing steam meanwhile we have a double top pattern which we can see more clearly in the lower timeframes.

In case we have a breakout above the trendline we should wait for a correction and then go long.
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