After a long period of sideways chop, AUD/USD is finally showing signs of strength. Price has been pressing against the key resistance zone, and we’re now seeing a tightening wedge breakout structure forming just beneath it.
A key moment on the chart is where sellers got trapped during that sharp downside wick. Since then, price has been recovering in a steady, controlled manner.
Now, with higher lows forming and momentum building near resistance, a parabolic move could be on the horizon if price manages to break out cleanly.
This is a classic setup where patience could pay off, the structure is bullish, and breakout confirmation may unlock strong upside potential.
DYOR, NFA
A key moment on the chart is where sellers got trapped during that sharp downside wick. Since then, price has been recovering in a steady, controlled manner.
Now, with higher lows forming and momentum building near resistance, a parabolic move could be on the horizon if price manages to break out cleanly.
This is a classic setup where patience could pay off, the structure is bullish, and breakout confirmation may unlock strong upside potential.
DYOR, NFA
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.