The 4-hour chart for AUD/USD shows that the pair has found strong support around the 0.64 level after the US Dollar continued to weaken. The bearish pressure on the Dollar Index is pushing AUD/USD higher toward the 0.66 area. A break above 0.66 could lead to further upside in the pair.
The emergence of an ascending broadening wedge within a larger symmetrical broadening wedge indicates a high level of volatility. However, the bullish trend inside the symmetrical wedge suggests an upside breakout is likely.
