by in AUDUSD

The 200 month EMA Has capped price action since last July
Leading to a consolidation with higher lows.
Creating and ascending TL that is acting as support.

What does this all mean?
In the short term price is happy where it is.
Until the wedge breaks I will refrain from making long term plays.
In the short term I will look to Play the ascending Tl for bounces following the 1 HR EMA's