candlestick<\/a> reversal pattern it could be a sign the pair is extending its sideways trend and a leg down is about to begin.\u00a0<\/p>\nA MACD cross back below the signal line \u2013 especially if in positive territory \u2013 would add further evidence to suggest a move down within the narrow range was evolving.\u00a0<\/p>\n
Failed breakdown<\/h2>\n
AUD\/USD broke down from its rising channel on May 22, bringing the established uptrend into doubt. Follow-through lower was weak, however, and the pair soon found its feet. There is no clear short-term directional trend suggesting the trend may actually be sideways.\u00a0<\/p>\n
It would require a decisive break below 0.6591 to confirm more downside, with the next target probably at 0.6560 where the 100 and 50-day SMAs are located (not shown).\u00a0<\/p>\n
Alternatively, a decisive break above the range ceiling would reassert the bullish bias and probably lead to 0.6714 (May 14 high).\u00a0<\/p>\n
Decisive breaks are accompanied by long candles that break through the level and close near their high or low or three consecutive candles that pierce the level in question and are all of the same color (red for a bearish decisive break and green for bullish).\u00a0<\/p>\n
\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
AUD\/USD is unfolding an up leg within a range which is approaching the range highs.\u00a0 If it reaches the highs the pair could reverse and begin a move south, extending the sideways trend.\u00a0 A clear breakout above the range highs or lows would be required to give the pair directionality again. AUD\/USD trades about a […]<\/p>\n","protected":false},"author":2,"featured_media":13777,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[377,201,248,251,246,257,255,250,252,247,253,249,308,256,254],"class_list":["post-314441","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-audusd","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-technical-analysis","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/314441","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=314441"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/314441\/revisions"}],"predecessor-version":[{"id":314444,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/314441\/revisions\/314444"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/13777"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=314441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=314441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=314441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}