AUDUSDAUDUSD on an uptrend with HHs and LLs on the 1H. Price broke resistance and made a pullback testing what is now support. Price retraced at 38.2% fib level. A consolidation occurred creating a descending triangle with LH's and a strong support level with long wicks indication a strong rejection of buyers, should price close higher than the last lower high of the descending triangle it will break structure and a buy setup will be confirmed and take profit 1 would be at 0.72119, and take profit 2 will be at 0.72571 should price continue to break the resistance level of take profit 1.
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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.