AUD/USD is showing a classic Rectangle. Don't miss the move.
Sideways movement between parallel supports.
Bearish continuation pattern.
Consolidation. Can break either way.
Bearish continuation if preceding move was down.
Market participants tracking AUD/USD should note the latest formation. Currently at $0.69, the asset is showing downward momentum (-0.47%). Algorithmically, a Bearish Flag structure has completed. Buying pressure is average relative to the 20-day average. A potential breakout level is identified at $0.68, targeting $0.63 with support near $0.7 (R:R 4.03).
What is your outlook on AUD/USD?