Potential Diamond Bottom Pattern on AUD/USD
Following a 12% plunge since topping out at US$0.6942 at the beginning of October 2024 – with pullbacks few and far between – the AUD/USD (Australian dollar versus the US dollar) is pencilling in what appears to be a diamond bottom pattern around US0.6150ish (made up of a broadening formation and a possible symmetrical triangle).
What’s technically interesting from the daily chart is that the diamond bottom is forming from monthly support coming in at US$0.6094. Following at least two tests of the symmetrical triangle outer edges on each side, should this pattern complete – price breakout to the upside – strong moves higher could be prompted once established.
What’s technically interesting from the daily chart is that the diamond bottom is forming from monthly support coming in at US$0.6094. Following at least two tests of the symmetrical triangle outer edges on each side, should this pattern complete – price breakout to the upside – strong moves higher could be prompted once established.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.