AUD forming a triangle of 0.8265

Despite the decline marginally lower by 0.7850, the Australian dollar found decent demand above 0.7828 support again and staged a strong growth of Aussie there and although we went down after a short 0.7970, the price has just begun to rebound again from 0.7910 (just below the Tenkan-Sen), suggesting the cost is likely to be tested Kijun-Sen (now at 0.8009) and then to the bottom of Ichimoku cloud (currently 0.8043), and even test 0.8066 resistance. If the price rises above the 0.8066 resistance, will increase the possibility of forming a triangle of 0.8265, then a stronger recovery of 0.8140/50 will follow.

Therefore, we are exiting our short position, and will probably require you to turn long the Aussie when we see prices slip back to 0.7940/50 0.7900/10 level as you continue to limit the downside the pair is.

On the downside, if only in support of 0.7828 is broken, it will confirm the double top formation of 0.8265 to 0.8238, the major correction in the last entire increase will be held at 0.7750/60 otherwise gyration 0.7828 to 0.8265 in the number will continue.