AUD - awaiting breakout
Good Evening Dynamic Traders,
Hope you are all having a great week. The GBPCHF mentioned last week is showing some signs of a possible break away from consolidation with a big bearish bar for today. It has broken through the most recent trendline and is heading back south.
The AUD chart below shows price retesting the previous resistance level. Whilst being in close proximity to a RN and also a display of indecision candles is not promising, given the trend, the smart money will wait until a break and then step in to reap the rewards.
Note the Euro and Swissy are doing very similar things and so worth putting on your watchlist.