Daily
Chart Prepared by Jamie Saettele, CMT
DailyFX Trading Guides and Forecasts
-Recent comments noted that “AUD/USD price action since Brexit has been choppy and consists of overlapping waves. That alone suggests that we may be dealing with a triangle. Triangle barriers are near closing extremes of .7460 and .7700. A break of one of these levels should open the door for a directional move.” The proposed right shoulder low at .7505 is invalidation for the bulls.
For more analysis and trade setups (exact entry and exit), visit SB Trade Desk