Rising Wedge in AUDUSD.

Ryan_lopes Updated   
FX:AUDUSD   Australian Dollar / U.S. Dollar
Hello my fellow traders, hope you'll making some profits. We are here with our new analysis so that we can increase those profits for you. Let’s get into the analysis. We have posted two charts. The D1 time frame chart is in the comment section, which indicates the support and resistance. On the H1 chart we can see that the pair is moving in the rising wedge with a new higher high while not breaking its previous higher lows. It will be interesting to see if it continues inside the wedge and move up till the resistance or it breaks the wedge support line and starts falling. On the weekly chart you can see that the long term trend is on the down side.

Let us know your views on this in the comment section. Thank you all.

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