Exactly one week ago at this same time, I wrote about how AUDUSD buyers were attempting a reversal. The pair had recently fallen below wedge support at 0.7100. However, the September 12th close above 0.7150 suggested that was a false break. As you may well know, a false break to one side of a pattern often triggers an extended move in the opposite direction. Look no further than this week’s AUDUSD rally. I also mentioned the 0.7160 support level in last Friday’s post. By Monday, it was clear the level was closer to 0.7150. But as I’ve stated before, it’s often better to view these levels as areas or zones rather than ... (full story)