AUDUSD: Symmetrical Triangle
Price is consolidating inside a symmetrical triangle, showing indecision between bulls and bears.
Before entering the triangle, the market showed strong bullish momentum, indicating a possible continuation pattern.
Price is hovering near a key support level (0.6513) where multiple candle wicks suggest buying pressure is defending.
🔍 Key Zones & Levels:
Support (0.6500–0.6510):
Price is reacting strongly here.
A break below this = bearish pressure → could retest lower demand zones.
Resistance (0.6530–0.6541):
Mid-structure resistance.
Clean breakout above this confirms bullish control.
Minor Reversal Zone (0.6555):
If bulls break above triangle, this area may stall price or reverse short term.
Ideal area for TP or trailing SL.
Demand Zone (0.6454):
Strong historical buy zone.
Only likely to hit if triangle breaks down aggressively.
📈 Bullish Scenario:
If price breaks and closes above triangle + 0.6530 zone, expect:
Rally to 0.6541 (first target)
Extension toward 0.6555 where reversal/supply could kick in.
Momentum and volume confirmation needed — no breakout = no trade.
📉 Bearish Scenario:
If price breaks below triangle & 0.6500, expect:
Drop to 0.6490 (minor support)
Further slide toward 0.6454 (major support) if downside accelerates.
