A head-and-shoulders pattern is forming on the AUDUSD 1D chart.
Here are the details:
The market has found strong support at the 0.65255 level, which is the neckline. The right shoulder is currently forming, and we expect some consolidation around this level before a possible break and close below the neckline.
The plan here is to monitor both the neckline and right shoulder and wait for a confirmation signal before entry.
Preferred Direction: Sell
Technical Indicators: 20 EMA
Resistance: 0.66048 Support: 0.65255
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Not really! At least in my opinion. Dollar won’t hold too long the high strike
BluetonaFX
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@EastCostSI, Only the US is announcing positive major data consistently at the moment compared to their other counterparts. We will see though. Appreciate your comment, thank you.
mduduzimsimanga048
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Guys have you ever see the performance of the dollar last week , CPI , Umployment claims best results. AUDUSD will go down next week
Dollar, based on today's news gets another bullish leverage, which may weaken the currency pair