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AUDUSD is holding within the triangle; break of either boundary to signal n/t direction
The Aussie recovered the biggest part of today’s fall to 0.7610, the low of two-legged pullback from Tuesday’s high at 0.7687. Near-term studies are regaining traction, with bullish setup of daily studies, keeping near-term focus at the upside or now.
However, repeated upside rejections that left series of lower tops and daily candles of yesterday/26 Oct with long upper shadows, signal persisting downside pressure.
Near-term action is holding within the triangle and initial signals will be generated on break through triangle borders (upper at 0.7678 and lower at 0.7616).
At the upside, spike highs at 0.7687 and 0.7707, mark next pivotal barriers, while lower boundary is reinforced by daily Kijun-sen line and break here would weaken near-term structure for extension towards next supports at 0.7590 and 0.7556.
However, repeated upside rejections that left series of lower tops and daily candles of yesterday/26 Oct with long upper shadows, signal persisting downside pressure.
Near-term action is holding within the triangle and initial signals will be generated on break through triangle borders (upper at 0.7678 and lower at 0.7616).
At the upside, spike highs at 0.7687 and 0.7707, mark next pivotal barriers, while lower boundary is reinforced by daily Kijun-sen line and break here would weaken near-term structure for extension towards next supports at 0.7590 and 0.7556.
Res: 0.7656; 0.7687; 0.7707; 0.7732
Sup: 0.7631; 0.7616; 0.7590; 0.7556
Sup: 0.7631; 0.7616; 0.7590; 0.7556
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