AUDUSD breakout from tight range and new all-time high ahead?
AUDUSD is trading in a more and more narrow trading range and a symmetrical triangle has formed. A breakout from this current tight range (not seen since 2005-2006) could push AUDUSD to a new all-time high. A major upward move to around 1.16 is not unlikely, says Kim Cramer Larsson, Technical Analyst in a video on TradingFloor.com. A Doji Morning Star pattern has emerged in the past couple of days and the RSI has bounced off the 40 threshold level indicating a bullish rally is ahead. For more information see a related Trade Idea: Buy AUDUSD - New highs on likely triangle breakout.