Is AUD/USD going to fly?

Is AUD/USD going to fly?



We can observe a descending wedge from the 4H chart and scaling down to the 1H chart, we can see a breakout of the wedge pattern.
It is important to observe the price action as prices could rebound after a retest of the trendline

Upside targets:
TP 1 – 0.78470
TP 2 – 0.79070

SL: 0.76875

An entry from the retest (if any) and reaching TP 2 would give a nice risk-reward ratio of around 3.

Disclaimer: Content discussed is for informational purposes only and shall not construe an offer or solicitation to engage in any activity regarding the subject matter.

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