Australia’s February CPI came in softer than expected on both the headline and underlying measures, and with the broad market environment still trading with highly uncertain conditions, AUD/USD seems like a solid candidate to move on beyond the watchlist stage.

The move lower in AUD/USD carved out an interesting technical structure worth studying — a potential symmetrical triangle breakdown with a handful of clearly defined levels to work with. This is a good educational opportunity to walk through two different ways a trader might approach the same setup, and why the differences matter.