AUDUSD: Ascending Wedge Formation, Likely Drop Incoming!AUD/USDOANDA:AUDUSDVincePrinceHello Community, welcome to my new analysis of AUDUSD on the 4-hour timeframe perspective. In the recent times, I have spotted interesting setups in the forex market that have the potential to convert into valuable trading opportunities. In AUDUSD, I have spotted all the underlying factors to consider now. When looking at my chart, we can see how AUDUSD is forming this major ascending wedge formation. Such a formation is known for its swift reversals and bearish pullbacks towards the downside once it has been completed. At the moment, AUDUSD is still finishing the wave count within the formation. Important for a potential trading opportunity to consider is to wait for the confirmations, which will be determined once AUDUSD breaks out below the 50-EMA and the lower boundary of the formation. In this manner, thank you a lot for watching! The support is highly appreciated. VP