AUDUSD: Ascending Triangle

AUDUSD, H4

In the H4 timeframe, AUDUSD is in an uptrend, forming an ascending triangle. The 50-MA provides extra support for the asset.

Consolidation above 0.6430 will open the way to 0.6500;

A breach below the 0.6390 support and a trendline will trigger a decline toward 0.6320.

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Author: Timur Yurdagyul

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