AUD/USD is showing a classic Rectangle. Don't miss the move.
Sideways movement between parallel supports.
Bullish continuation if preceding move was up.
Consolidation. Can break either way.
Bullish continuation pattern.
Reversal pattern. Price likely to break downwards.
Technical analysis of AUD/USD (AUD/USD) reveals a significant setup. The stock is trading at $0.72, up 0.83% on the day. Algorithmically, a Bullish Flag structure has completed. Volume is average (1.0x avg) with moderate trend strength (6.9). A potential breakout level is identified at $0.73, targeting $0.77 with support near $0.71 (R:R 2.25).
What is your outlook on AUD/USD?