Emerging Descending Triangle pattern in its final wave was identified on the AUDUSD 4 hour chart. After a strong bearish run, we find AUDUSD heading towards the upper triangle line with a possible resistance at 0.6357. If the support shows to hold, the Descending Triangle pattern suggests a rebound back towards current levels.
A Descending Triangle has formed, AUDUSD is approaching resistance. Can we expect a breakout and the start of a new trend or a reversal?
