AUD/USD is threatening a breakout from a bullish ascending triangle pattern after weeks of tight consolidation:
Triangle Pattern: The pair has carved out a clear ascending triangle, marked by higher lows and resistance near 0.6500. Today's breakout attempt is the most convincing yet.
Key Levels in Play: 0.6500 remains the neckline to beat, while the 200-day SMA (currently near 0.6446) has served as a gravity line for weeks. A daily close above both would mark a significant technical shift.
Momentum Gauges: RSI is lifting off the 50 level, hinting at building bullish momentum. MACD is attempting to cross above the zero line but still lacks follow-through.
Targets: A confirmed breakout opens the door toward the 0.6558 Fibonacci level, with 0.6730 a stretch target if momentum builds.
Failure to break higher from here could bring a sharp drop back toward support near 0.6360. Keep an eye on volume and closing strength.
-MW
Triangle Pattern: The pair has carved out a clear ascending triangle, marked by higher lows and resistance near 0.6500. Today's breakout attempt is the most convincing yet.
Key Levels in Play: 0.6500 remains the neckline to beat, while the 200-day SMA (currently near 0.6446) has served as a gravity line for weeks. A daily close above both would mark a significant technical shift.
Momentum Gauges: RSI is lifting off the 50 level, hinting at building bullish momentum. MACD is attempting to cross above the zero line but still lacks follow-through.
Targets: A confirmed breakout opens the door toward the 0.6558 Fibonacci level, with 0.6730 a stretch target if momentum builds.
Failure to break higher from here could bring a sharp drop back toward support near 0.6360. Keep an eye on volume and closing strength.
-MW
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.