AUDUSD is breaking the rising wedge
It is breaking below the rising wedge 0.7150 and is opening a new wave down. For a downside extension continuation and a higher probability of short trade entries, we need to see a confirmed break below 0.7100. A break below this level would lead to an extension lower to 0.6700 medium-term. The overall medium-term is an uptrend but we need to see a confirmed break above 0.7350 for a complete upside continuation extension.
Note – We are inclined more to short trade entries with the stop loss above 0.7180
Elliott Wave&Price action combined crash course with add-ons! Promo 50% off!
If you want to learn trading analysis and how to get to key trading levels like in this article register for Private Live mentoring with your trading evaluation.
