AUDUSD (long) breakout today - did anybody catch it? Lots of confluence

[victoriajensen]

It's consolidating sideways for now, but a further decline is quite likely.

 

[victoriajensen]

The pair has formed a shooting star at 0.7550 and it will likely fall towards 0.7400 again.

 

[izzy_63]

Aud/Usd continue ranging around 0.75 level, the pair still lacks directional strength.

 

[fxstrategist]

On the daily chart of the AUDUSD we can see a possible Inverted Head and Shoulders pattern with its confirmantion or neckline at the 0.7568 level. Above the neckline, its next resitance could be the 0.7600 level along with the 55 day EMA (blue line). The 200 day EMA at the 0.7700 level may also act as a resistance.

 

[victoriajensen]

On the daily chart of the AUDUSD we can see a possible Inverted Head and Shoulders pattern with its confirmantion or neckline at the 0.7568 level. Above the neckline, its next resitance could be the 0.7600 level along with the 55 day EMA (blue line). The 200 day EMA at the 0.7700 level may also act as a resistance.

I agree with you. The shooting star on the daily time-frame proved to be a false signal, the pair should rise towards 0.7600 at least.

 

[victoriajensen]

The pair did rise towards 0.7600 but so far hasn't been able to break out above that resistance. If it does, next target will be likely at 0.7670.

 

[victoriajensen]

It bounced off from 0.7600 after all, next target is likely around 0.7500 or below that level.

 

[victoriajensen]

The sideways consolidation continues, unless the fundamentals end it tomorrow it may continue next week too.

 

[victoriajensen]

It's testing the support at 0.7550 again, if it breaks out below it the pair will likely fall back to 0.7500.

 

[izzy_63]

The pair opens the week with a bullish gap and continues to push higher, it's testing the immediate resistance level.