Short

March Australian Dollar Head and Shoulders.

Updated

AUD fell today after posting higher move last night for top of possible right shoulder. Nearing neckline at .7042. Tomorrow should show either a reversal or continued selling to neckline. Outside target for right shoulder height and fall if this does come due is S1 at .6953 and perhaps S2 at .6840. That would put it below a double bottom so not sure if would go that far.

Note

Australian dollar is finishing off the right shoulder. Watching USD to see what direction it will take. USD rose Friday on strong support.

Note

AUD appears to be creating a bear flag at .7084. Neckline comes in at .7026. First target would be getting to support at .7058

Note

AUD almost at neckline. June has already made that target.

Note

AUD now at neckline.

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