Hello.
It’s the middle of the Asian trading session and we’d like to update everyone on the AUD/USD Daily chart.
The daily chart has formed somewhat of a triangle and we are nearing the breaking point.
Watch for the currency pair to break either Trend Line 2 (TL 2 ) or Trend Line 1 (TL 1 ).
If it goes up and breaks TL 2 and continues moving upward, then look for a good movement up to test the top of high of 1/7.
If it goes down and breaks TL 1, then watch for it to test the low of 10/27/08. If it breaks and moves lower, then look for a good movement down.
We will most likely see what unfolds on Friday mornings USD’s NFP announcement.
Remember to use your stops and apply your money management.
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