Breakout alert! After faking is out last week, AUD/USD is now showing signs that it has broken below an ascending triangle pattern on the daily time frame. Heck, it has broken through the rising trend line as well as the 100 and 200 SMAs! If you’re planning to short the Aussie for a long-term trade, then you might want to aim for the .7150 MiPs, a level that held as support despite being tested twice so far this year. Shorting at current levels is a good play for those who believe that the breakout has momentum, while an entry around the SMAs also sounds good if you think that the Aussie will retest the levels it has broken before heading much lower.
aud usd by me.jpg
aud usd by me.jpg
(Discuss) AUD/USD: Daily
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