The AUD/USD has been consolidating in October. Let’s take a look at the charts for the structure and possible outlook after a breakout from the current consolidation.
The AUD/USD is consolidating and forming a triangle. The Chinese GDP data later might help it break out. Let’s take a look at the charts to prepare for the breakout. A break above 0.88 for example could indicate a continuation of consolidation with upside risk back to 0.89. However a break below 0.8750 and 0.87 could be a signal for bearish continuation to and possibly beyond the current low at 0.8638.
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