AUDUSD Daily Analysis 1/19/20

FX:AUDUSD   Australian Dollar / U.S. Dollar
AUDUSD Short Idea

The monthly, weekly and 4 hour time frames are all bearish while the daily is bullish .

Although the daily is bullish we have seen significant resistance around our monthly level at 0.70000 and price action looks to be forming a head and shoulders pattern.

For the head and shoulder pattern to be confirmed we need to see a break of 0.68500

We can then look to target toward our next major support level around 0.68000 followed by 0.67000


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