AUDUSD Completed Head and Shoulder pattern, long term channel up

FX:AUDUSD   Australian Dollar / U.S. Dollar
185 0 0
The HnS pattern is complete. Can it go lower? Absolutely! However, this is a CONFIRMED channel. So if it does go lower and touch the lower edge of the channel, prepare for long on confirmation. If it does hold, my speculation: Congestion into the late part of 2014 and then a breakout to the upper channel edge.

I am neutral until I see the bottom confirmed. Naturally, players today will be exiting short aud positions and going long. We can see a good 1 cent reaction from the current levels and range for 2-3 weeks.
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