AUDUSD has formed a massive head and shoulders pattern on the 240M and 60M timeframes.
There was a large spike that appeared to invalidate the pattern and trend, however the positive aussie news was reversed during NY sessions this morning. Downtrend appears to be in tact.
Watch for a break of the major support for sells.
Aussie bias is bearish.
There was a large spike that appeared to invalidate the pattern and trend, however the positive aussie news was reversed during NY sessions this morning. Downtrend appears to be in tact.
Watch for a break of the major support for sells.
Aussie bias is bearish.