Australia leaving “Down Under” territory!

The AUDUSD forex pair could be breaking out of the¬†classical reversal chart formation “falling wedge“. Check out the 10 year monthly candle chart. Target is adjusted to the closest “wall” at 87.50.

audusd_m

The 5 year weekly candle chart is more of the same. Better view on the breaking out from the possible bottom.

audusd_w

Notice some “bullish divergence” on these charts. This adds value and probabity to the possible pending reversal move.

Here is the zoom in on the 1 year daily candle chart.

audusd_d

Breakout confirmed on the weekly and daily candle charts. Need to wait for monthly canle close for confirmation! Hold on… just a little more “patience” required.

 

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