RLinda ! AUDUSD-> Forming a pattern that can change the trend
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AUDUSD is coming out of the downtrend, but does not seek to fly up yet, and forms a consolidation in the format of an ascending triangle.
The role of resistance in our figure is played by the zone 1.6730. As we can see, the local lows are gradually increasing, hence, the resistance level is subjected to pressure from the buyers. If the level of 1.67300 is broken through, the price may form a bullish impulse.
I expect that the price may break resistance in the near future. In this case my target will be the resistance level and the liquidity zone of 1.69500
Regards R. Linda!
The role of resistance in our figure is played by the zone 1.6730. As we can see, the local lows are gradually increasing, hence, the resistance level is subjected to pressure from the buyers. If the level of 1.67300 is broken through, the price may form a bullish impulse.
I expect that the price may break resistance in the near future. In this case my target will be the resistance level and the liquidity zone of 1.69500
Regards R. Linda!
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