MrVolcano
Short

AUDUSD - Head & Shoulders

FX:AUDUSD   Australian Dollar / U.S. Dollar
92 0 5
Ascending wedge pattern. All technicals look as if price is about to fall, BUT the fundamentals for this pair are strong. AUD has good interest rates and no immediate plan to change them, USD is expected to cut rates in Dec. Aussie is strong. I think a breakout to the upside is likely in the near future, but the charts are suggesting that there will be one more move back to the lower channel before breaking higher.
Trade closed: target reached
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