Analysis: Channel Pattern - 100 pips | AUD\USD

An Ascending Channel pattern has formed at the AUD\USD pair in the past week, at 1-hour chart. It is a strong pattern - price respected the Support 6 times and Resistance 5 times. The touches of trendlines confirm the pattern and increase the reliability of the Pattern. Pattern is 100 pips in size.

Trading
Long trade will be issued after touch of Support. Target will be the opposite Resistance trendline. We normally do not enter such trades but this pattern is confirmed well and its Support is stable.
Short trade will be issued after breakout and a pullback to the Support. Wait for price to retrace to the Support level after breaking out and enter.

Target
Target is measured 100 pips from the breakout price.