FX.co ★ torp.paris | AUD/USD

Hello everyone! On the hourly chart of AUDUSD, a descending triangle is forming, which is a pattern of uncertainty, with a breakout of one of its sides determining the trend direction. The pair has already worked out a reversal signal "Double Top", but despite breaking above the level of 0.7070, the decline may continue based on the results of the Fed meeting. The new chairman of the American regulator, Kevin Warsh, will be forced to announce a policy of at least a rate freeze. Both the Bank of Japan and the ECB have raised rates. The overall trend of developed countries towards tightening monetary policy has a negative impact on national currencies and strengthens the dollar. However, my short-term downside target of 0.7050 remains unchanged.