Cabana Capitals Blog Technical Analysis Reversal pattern on AUDUSD

Reversal pattern on AUDUSD

Reversal pattern on AUDUSD post thumbnail image

You would be well advised to confirm the breakout that has just occurred – do you believe the move through resistance to be significant? Do you have confirming indicators that the price momentum will continue? If so, look for a target of 0.6711 but consider reducing the size of your position as the price gets closer to that target.

Supported by Upward sloping Moving Average

Target: 0.6711 Entry: 0.67 Stop: 0.6668

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