AUD/USD: 4-hour

AUD/USD 4hourUh oh, is the Aussie about to go down under? It looks like a head and shoulders pattern is forming on AUD/USD's 4-hour time frame, suggesting that a potential reversal from the uptrend could be in the works. It seems that the right shoulder hasn't completely formed yet though, as stochastic is still pointing upwards. Note that the formation is roughly 150 pips in height, which means that the pending breakdown could reach until the 1.0300 area.