© Dukascopy Bank SA
The pair has already reached the pattern's bottom twice, thus suggesting that it is ready for a rebound. Although, there still is a possibility of a triple bottom formation, if the currency pair fails to breach the neckline around 0.89 level. Nonetheless, an overwhelming majority of the market participants are expecting the Aussie to gain against the Greenback. Thus, we see the pair reaching the 0.89 level soon.
© Dukascopy Bank SA