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Short

AUDUSD: Head & Shoulders formation, watch for break below 0.7180

FX:AUDUSD   Australian Dollar / U.S. Dollar
329 0 5
Head and Shoulders pattern formation seen on AUD/USD             4-Hourly charts.

Watchout for AUD/USD             breaks below 0.7180 (neckline) for further downside in the pair. 0.70 could be next bear target.

AUD/USD             ignored moderate gains in Comex Copper             and tracked oil             lower.

Immediate support is seen at 0.7201 (50-DMA), while resistance is seen at 0.7258 (hourly 50-MA) ahead of the major hurdle at 0.7284 (hourly 200-MA).

We would go short on break below 0.7180, SL: 0.7285, TP: 0.70
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