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IlyaSpivak

AUD/USD Set to Complete Topping Pattern?

Australian Dollar / U.S. Dollar (FX_IDC:AUDUSD)  
IlyaSpivak  
FX_IDC:AUDUSD   Australian Dollar / U.S. Dollar
Head and Shoulders head_and_shoulder AUDUSD aud-usd
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headandshoulders head_and_shoulder audusd aud-usd
AUD/USD broke below the long-standing 0.7664-91 support zone, seemingly opening the door for a run at the neckline of a large Head and Shoulders topping pattern (0.7564). A daily close below that would imply a measured move lower toward the 0.71 figure. A notable hurdle is eyed near the 0.74 mark along the way.

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