Ascending triangle, bottom: After the AUD/USD found support at 0.8930 last week, it has been holding in an ascending pattern where the resistance was in the 0.9045-0.9056 area. As we get into the 8/26 US session, it has made a push above the triangle resistance, thereby putting in a short-term price bottom. Note that the RSI reading has been holding between 40 and 60, a sign of flat consolidation momentum. It is now breaking above 60, which shows that the previous bearish momentum is dead. Price is likely to test the 200-hour SMA, and perhaps the 0.91 handle. A break above that opens up the 0.9233 August-high. ... (full story)