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AUDUSD Technical Analysis Update – Ascending Triangle At Parity
The AUD/USD currency pair is currently consolidating gains around the parity level. Price has bounced lower from this area on three recent occasions and each time a higher low has formed thus creating an ascending triangle. Parity is found when a single Australian Dollar buys its US counterpart. The Aussie dollar is currently up around .67% on the day versus the greenback. This kind of technical level, with multiple bounces at a clearly defined area, will most likely see considerable order flow building. Options barriers and other speculative flows can also play a part around these major round numbers. A sustained ... (full story)
