IlyaSpivak

AUDUSD monthly chart warns of major topping

Short
FX_IDC:AUDUSD   Australian Dollar / U.S. Dollar
The AUDUSD monthly chart appears to reveal the formation of a Head and Shoulders ( H&S ) top marking the end of a corrective rally from March 2020 to February 2021. That upswing saw a retest at the underside of a long-term rising trend that held unreached from April 2001 to December 2018. From here, the H&S setup implies a measured downside objective just above the 0.60 figure, which marks the 2008 Great Financial Crisis low.

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