AUD/USD continues to rise inside the well-formed Triangle chart pattern identified by Autochartist on the daily charts. The overall Quality of this chart pattern is rated at the 5 bar level as a result of the low Initial Trend (measured at the 3 bar level) and strong Uniformity and Clarity (both measured at the 7 bar level). This chart pattern develops in line with the prevailing uptrend visible on the daily and the weekly AUD/USD charts. The pair has previously reversed up (at point D) from the 38,2% Fibonacci Retracement of the preceding upward price impulse of this Triangle (from C to B). AUD/USD is expected to rise further toward the upper resistance trendline of this chart pattern, as is also indicated by the PowerStats analysis shown below.

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As can be seen from the following PowerStats chart for AUD/USD, the upper boundary of the daily Expected Price Range calculated by Autochartist (1.0510) stands very close to the upper resistance trendline of the above Triangle - which heightens the chances that this currency pair will continue to rise within this Triangle.

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