Baxia Markets
October 18, 2021

AUDUSD Breaks Out The Ascending Triangle

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The price of AUDUSD broke out of the ascending triangle on Oct 11,  it also broke out of the upper Bollinger bands. Now, the price still moves up. Although it meets several small resistance blocks, the upward trend has not stopped. The price had moved above the middle line of the Bollinger Bands since the breakout time. It looks like the upward trend power is still strong.




Recently, the Bollinger Bands shrunk, as we know, a breakout signal. Also, at this point, the price line touches the lower Bollinger Band, meaning the price has already met resistance here. The Ichimoku cloud stopped growing here. MACD seems to get to the cross point. The Standard Deviation also went down. The Bulls Power went down to the zero level.


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