AUD/USD has recently completed the well-formed Triangle chart pattern identified by Autochartist on the daily charts. Autochartist rates the overall Quality of this chart pattern at the 5 bar level as a result of the low Initial Trend (one bar) and substantial Uniformity and Clarity (both rated at the 8 bar level). The completion of this chart pattern continues the predominant uptrend visible on the weekly AUD/USD charts. Significant Uniformity and Clarity of this chart pattern reflect the well-formed Triangle with high visibility to the market participants. The pair is expected to rise further toward the Forecast Price 1.0543.

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As can be seen form the following Key Levels chart, Autochartist has also recently identified the horizontal Key resistance Level 1.0381 (of the type Approach) on the daily AUD/USD charts. The pair is expected tor rise toward this level - which adds to the likelihood that the price will approach the Forecast Price calculated for the completion of the above Triangle (1.0543) in the nearest time.

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