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IlyaSpivak

AUD/USD Support Break Beckons Next Leg of Bearish Reversal

Short
Australian Dollar / U.S. Dollar (FX_IDC:AUDUSD)  
IlyaSpivak  
FX_IDC:AUDUSD   Australian Dollar / U.S. Dollar
Head and Shoulders Support and Resistance AUDUSD
2
0
headandshoulders supportandresistance audusd
AUD/USD is on the verge of confirming a break of major support clustered around the 0.74 figure, opening the door for downward extension to test the 0.7222-44 zone. That would mark the next major leg in a move realizing the implications of a Head and Shoulders top carved out since the start of 2021. The setup implies a measured move down to the 0.7120-30 area.

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