AUDUSD - Break Of Channel Triggers Long Opportunity
Price has been correcting the overall uptrend since the 1st of August with a channel to the downside. Last week we broke this channel and price is now consolidating above the counter trend channel with the possibility of an A,B,C corrective pattern being formed. Whether or not the C wave completes, price is indicating a possible resumption of the overall up trend and an impending rally in the AUDUSD to the key areas of resistance highlighted in the chart and possibly further given the size of the bullish primary trend.
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