AUDUSD: A symmetrical triangle

AUDUSD, H4

On the H4, AUDUSD formed a symmetrical triangle pattern. The price fell to the lower boundary, testing the intersection of MA50 and MA200. Despite the short-term decline, the AO indicates a growing bullish sentiment.

• A trend break below 0.6295 will drop the price to 0.6260 and further to 0.6200;

• However, a break of the upper trendline above 0.6325 will start the upside to 0.6370 and further to 0.6400;