AUD/USD Bearish Wedge
AUD/USD is a good pair to watch this few weeks to come.
It has currently formed a rising wedge or a bearish pennant on the Weekly chart, with the lower TFs showing weakness as well.
If the bearish strength is great enough to break both S1 and S2 at 0.75065 and 0.74357, then the next target should be at S3, 0.71346.
Good pair to enter on the shorter timeframe if you are considering riding the wave down.
It has currently formed a rising wedge or a bearish pennant on the Weekly chart, with the lower TFs showing weakness as well.
If the bearish strength is great enough to break both S1 and S2 at 0.75065 and 0.74357, then the next target should be at S3, 0.71346.
Good pair to enter on the shorter timeframe if you are considering riding the wave down.
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