According to David Solin, FX Analyst at FXA.com, “long held view of a large triangle/pennant forming since July 2011, with the last few months action seen as topping near the ceiling, and with eventual declines to the base (currently at 0.9775/00) continues to play out”.
The AUD/USD is now losing 0.34% at 1.0415, with the next support at 1.0395 (low Jan.4) ahead of 1.0380 (Lower Bollinger) and then 1.0375 (Low Jan.2).
On the flip side, a breakout of 1.0445 (hourly high Jan.25) would expose 1.0464 (MA55d) and finally 1.0466 (daily cloud top).
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