ADAUSD was identified at around 0.8502 having recently rebounded of the resistance on the 4 hour data interval. Ultimately, the price action of the stock has formed a Falling Wedge pattern. This squeeze may increases the chances of a strong breakout. The projected movement will potentially take the price to around the 0.7896 level.
ADAUSD is quickly approaching the support line of a Falling Wedge. We expect either a breakout through this line or a rebound.
