RLinda ! AUDUSD -> ascending triangle after a resistance break

22 Mar 2023

AUDUSD while the dollar index is falling, the currency pair forms an exit from the descending price channel and forms an ascending triangle

Around the liquidity zone at 0.6750, a consolidation is forming, with the potential for a possible breakout and strengthening of the national currency. The bank crisis affected the dollar and the estimation of the situation, thus the currency went down.

I expect a breakthrough of the resistance at 0.6750 and further growth with a possibility of the final change of the trend in the near future. Short-term target is resistance at 0.68000, medium-term target is the liquidity zone at 0.6950.

Regards R.Linda!

23 Mar 2023

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