AUD/USD Bearish Triangle Breakout

As we could have seen in the previous AUD/USD analysis, the price followed the bearish setup and at this point, it is making a breakout. The bearish triangle breakout zone is 0.7390-0.7405 and this is the POC for short trades. A 4h close below 0.7350 should initiate a continuation move towards 0.7524 and 0.7298. Selling on rallies is the valid option.

• W L3 – Weekly Camarilla Pivot (Weekly Interim Support)
• W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)
• W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)
• D H4 – Daily Camarilla Pivot (Very Strong Daily Resistance)
• D L3 – Daily Camarilla Pivot (Daily Support)
• D L4 – Daily H4 Camarilla (Very Strong Daily Support)
• POC – Point Of Confluence (The zone where we expect the price to react aka entry zone)

Best wishes,

Nenad

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