One Trendline Broken, Two Trendline Broken, AUDUSD Set to Fall?
AUDUSD has been trading within a symmetrical triangle for the past 1 month, and the price was seen resisted at the top of the range.
The first trendline that brought the price to a high of 0.7464 was broken below, and this morning we had the 2nd trendline bringing the price to a high of 0.7441, which became a lower high, was broken below too.
At the same time, a head and shoulder was forming in the midst of breaking below the second rising trendline.
Lastly, the Dollar has withstood a drop and managed to close with a bullish candle yesterday.
Pretty bearish for the Aussie, and pretty sturdy for the dollar.
The first trendline that brought the price to a high of 0.7464 was broken below, and this morning we had the 2nd trendline bringing the price to a high of 0.7441, which became a lower high, was broken below too.
At the same time, a head and shoulder was forming in the midst of breaking below the second rising trendline.
Lastly, the Dollar has withstood a drop and managed to close with a bullish candle yesterday.
Pretty bearish for the Aussie, and pretty sturdy for the dollar.