AUD/USD Possible Head and Shoulder Pattern - 4HR

The pair looks to be forming a head and shoudler pattern on the 4HR chart - providing a possible sell opportunity.

We will wait for price to break and close below the neckline of the shoulder that is currently forming.

If price holds above the neckline, we will consider this a confirmation of the support zone and will look for CSI. Should this become present we will look for possible long positions off the support zone.

Key Resistance Level: (SL) 0.69200

Entry: 0.68520

Key Support Levels: (TP) 0.67800, 0.67000

AUDUSD

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