For Traders

Analytical Reviews

Technical analysis

30.11.202217:13 Forex Analysis & Reviews: AUD/USD: imminent upside breakout

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

AUD/USD Triangle Pattern!

As you can see on the H1 chart, the rate moves sideways in the short term. Now, it has developed a triangle pattern. It's trapped between 0.6747 and 0.6644 levels. It's trading at 0.6726 at the time of writing.

Staying near the triangle's upside line may signal an imminent breakout. Still, as long as it stays below this line, AUD/USD could come back down at least towards the triangle's downside line and down to the 0.6644 level.

AUD/USD Trading Conclusion!

Jumping above 0.6747 signals an upside continuation while dropping below 0.6644 announces a deeper drop and helps the traders to catch a strong drop.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.