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IlyaSpivak
Jul 19, 2021 5:25 PM

AUD/USD Support Break Beckons Next Leg of Bearish Reversal Short

AUSTRALIAN DOLLAR / U.S. DOLLARICE

Description

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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