The AUD/USD is setting up within triangle patterns on both the 4hr, weekly and monthly time frame charts. Watch the 4hr chart trend lines today though with AUD GDP for any momentum-based trend line breakout. Any bullish breakout would bring the 3 1/2 year bear trend line back into focus.
AUD/USD monthly: there is a large triangle on the monthly chart time frame.
AUD/USD weekly: there is another triangle, set within the monthly triangle, that is evident on the weekly chart. The bear trend line on this triangle has been in force for the last 3 1/2 years:
AUD/USD daily: note the lack of momentum on this time frame:
AUD/USD 4hr: There isn’t much momentum here just yet either so watch these trend lines today with AUD GDP for any momentum-based breakout:
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