# AUDUSD Symmetrical Triangle (May 11, 2015) Source: https://www.tradersway.com/resources/market-info/audusd-symmetrical-triangle-may-11-2015/ Language: en Updated: 2015-05-11 Description: Explore AUDUSD Symmetrical Triangle (May 11, 2015). AUDUSD has been. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. AUDUSD has been creating lower highs and making higher lows, forming a symmetrical triangle forex chart pattern on its 1-hour time frame. At the moment, the pair is testing the triangle support near the .7900 major psychological level and may be due for a breakdown. Stocahstic is moving down, confirming that sellers are stronger than buyers for now. Increased bearish pressure could lead to a downside break of support and possibly 300 pips in losses for the pair, which is roughly the same height as the triangle pattern. On the other hand, a bounce off the triangle support might lead to another test of the resistance around the .7950 minor psychological level. The path of least resistance is to the downside, as traders are renewing their long dollar biases after the release of the US NFP report last Friday. The actual reading came in line with expectations of a 223K gain while the jobless rate improved from 5.5% to 5.4% – its lowest level since May 2008. Meanwhile, the Australian economy recently printed a bleak jobs report, showing a surprise 2.9K drop in hiring versus the estimated 4.5K gain. This brought the country’s jobless rate up from 6.1% to 6.2%, reminding traders that the RBA just cut interest rates and might need to do so again. While the Fed might not be able to hike interest rates next month, they are likely to retain their rate hike bias for this year. Underlying labor indicators such as the participation rate and the underemployment rate have shown sustained improvements, which suggests that the economy is back on track to recovery. ![AUDUSD Symmetrical Triangle (May 11, 2015)] In addition, the recent interest rate cut from China over the weekend confirms that a sharper slowdown is eyed for the world’s second largest economy and Australia’s number one trade partner. This could weigh on risk appetite and drag the higher-yielding commodity currencies lower. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/audusd-symmetrical-triangle-may-11-2015/#primary", "url": "https://www.tradersway.com/resources/market-info/audusd-symmetrical-triangle-may-11-2015/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/audusd-symmetrical-triangle-may-11-2015/", "headline": "AUDUSD Symmetrical Triangle (May 11, 2015)", "inLanguage": "en", "datePublished": "2015-05-11T08:16:25+00:00", "dateModified": "2015-05-11T08:16:25+00:00", "articleSection": "Market Info", "description": "Explore AUDUSD Symmetrical Triangle (May 11, 2015). AUDUSD has been. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding.", "image": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/og-default.png" }, "author": { "@type": "Organization", "@id": "https://www.tradersway.com/#organization" }, "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": [ "Organization", "FinancialService" ], "@id": "https://www.tradersway.com/#organization", "name": "Trader's Way", "alternateName": "TradersWay", "legalName": "TW Corp LLC", "description": "Trader's Way is the trading brand of TW Corp LLC, a company registered in Anguilla under number A000001731. It provides online leveraged trading in forex, metals, energies, stock indices and cryptocurrencies through MetaTrader 4, MetaTrader 5 and cTrader, with Market execution, a 40% stop out level and a minimum initial deposit of 10 USD. The company holds no financial services licence and does not direct its services to residents of the United States or the United Kingdom.", "url": "https://www.tradersway.com", "foundingDate": "2011", "logo": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/logo-square-512.png" }, "address": { "@type": "PostalAddress", "streetAddress": "No. 9 Cassius Webster Building, Grace Complex", "postOfficeBoxNumber": "1330", "addressLocality": "The Valley", "postalCode": "AI-2640", "addressCountry": "AI" }, "contactPoint": { "@type": "ContactPoint", "contactType": "customer support", "email": "support@tradersway.com" }, "areaServed": "Worldwide, excluding the United States and the United Kingdom", "knowsAbout": [ "Foreign exchange trading", "Contracts for difference", "Leveraged trading", "Precious metals trading", "Energy commodities trading", "Stock index trading", "Cryptocurrency trading", "MetaTrader 4", "MetaTrader 5", "cTrader" ], "sameAs": [ "https://www.trustpilot.com/review/www.tradersway.com", "https://www.forexpeacearmy.com/forex-reviews/8129/tradersway-forex-brokers", "https://www.youtube.com/channel/UChRC072YJGlNNNYhg_0hZeA", "https://www.facebook.com/tradersway.forex.broker", "https://twitter.com/TradersWay", "https://www.instagram.com/traderswayforex/", "https://t.me/tw_eng" ], "identifier": { "@type": "PropertyValue", "propertyID": "Anguilla company registration number", "value": "A000001731" }, "location": { "@type": "Place", "address": { "@type": "PostalAddress", "streetAddress": "Radnicka 147", "addressLocality": "Valjevo", "postalCode": "14000", "addressCountry": "RS" } } }, { "@type": "WebSite", "@id": "https://www.tradersway.com/#website", "url": "https://www.tradersway.com", "name": "Trader's Way", "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": "BreadcrumbList", "@id": "https://www.tradersway.com/resources/market-info/audusd-symmetrical-triangle-may-11-2015/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://www.tradersway.com/" }, { "@type": "ListItem", "position": 2, "name": "Resources", "item": "https://www.tradersway.com/resources/" }, { "@type": "ListItem", "position": 3, "name": "Market Info", "item": "https://www.tradersway.com/resources/market-info/" }, { "@type": "ListItem", "position": 4, "name": "AUDUSD Symmetrical Triangle (May 11, 2015)", "item": "https://www.tradersway.com/resources/market-info/audusd-symmetrical-triangle-may-11-2015/" } ] } ] } ``` ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Person", "@id": "https://www.tradersway.com/#wayne-mcdonell", "name": "Wayne McDonell", "jobTitle": "Chief FX Strategist", "description": "Chief FX Strategist at Trader's Way, trading forex publicly since 2004. His analysis has appeared in the Wall Street Journal, Bloomberg Television, Fox Business, Futures Magazine and FOREX Journal Magazine. Author of \"Strategic and Tactical Forex Trading\".", "worksFor": { "@id": "https://www.tradersway.com/#organization" }, "knowsAbout": [ "Foreign exchange market", "Technical analysis", "Fundamental analysis", "Forex trading strategy" ], "sameAs": [ "https://www.youtube.com/c/tradersway" ] }, { "@id": "https://www.tradersway.com/#organization", "employee": { "@id": "https://www.tradersway.com/#wayne-mcdonell" } } ] } ```