AUD/USD formed a triangle pattern on its 4-hour chart.
AUD/USD formed a triangle pattern on its 4-hour chart. The triangle pattern is likely consolidation for the downtrend from 0.7081, a breakdown below the lower border of the pattern could take the price to 0.6600 area. On the upside, above the upper border of the pattern would indicate that the downtrend had completed at 0.6677 already, then further rally to 0.6900 area could be seen.
Futures, options, stocks, ETFs and over the counter foreign exchange products may involve substantial risk and may not be suitable for all investors. Leverage can work against you as well as for you. You should therefore carefully consider your investment experience as well as financial condition before deciding if trading is suitable for you.
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