AUDUSD LONG OPPORTUNITY

Australian Dollar/U.S. Dollar FX:AUDUSD

RiosTrades

The Aussie did break significant historical also recent levels of Structure, what I understand from this is that the Aussie is certainly gaining its confidence against the Greenbacks. I do see how price action is showing us a Bullish triangle of which is very close to breaking out after touching its High and Low lines. I’m prepared for either scenario to come about once the market opens. With the Bulls taking advantage of a weaker US Dollar I believe price can respect the pattern it is in and proceed to break above. In the case price fails to do so, my next opportunity would be to wait for price action to tell me something at it’s Key Level of Support.

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