Forex Price Action Setup - AUDUSD Failure Point Just Below Aug 9th

price action channel failure point aug 9th

*I’ve been gone for 5 weeks on vacation but am now back writing from command central so expect articles daily from Sun-Thur from here on out along with bonus articles on Friday.

Since the 20th of June, the Aussie has been in an upward sloping channel which has been rather orderly making a touch on the top and then venturing to the bottom….until recently.  Lately, it has been hanging around the upper band of this channel and putting pressure on the topside (along with the sellers in the market).  SEE CHART BELOW.

Generally, when you see this in a range or channel, it means the sellers are being squeezed out of the market as they are unable to make …

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