AUD/USD chart Pattern...AUD/USD chart with Ichimoku Cloud and a downward channel breakout setup.
Here’s what I can observe:
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🔍 Technical Setup:
Pair: AUD/USD
Timeframe: 3H
Pattern: Downtrend channel breakout to the upside
Indicators: Ichimoku Cloud, showing bullish Kumo breakout
Current price: ≈ 0.6599
Breakout zone / support area: around 0.6560–0.6575 (highlighted pink zone)
Resistance / target points: marked on chart as "Target Point"
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🎯 Price Targets (from my chart):
There are two target points indicated:
1. First Target Point: around 0.6450
→ This seems to be a measured move target just above the breakout zone.
2. Second Target Point (higher): around 0.6720–0.6730
→ This looks like the full channel breakout projection, measuring the channel height added to the breakout level.
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📈 Interpretation:
If the breakout sustains above 0.6570–0.6590,
then:
Short-term target: 0.6450 (first marked zone)
Mid-term target: 0.6720–0.6730 (second marked zone)
A retest of the pink zone (around 0.6570) could be a potential buy opportunity if it holds as new support.
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