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Australian Dollar / U.S. Dollar
Short

AUDUSD at Key Resistance

By Swiing
AUDUSD (H4) - Last week we saw the Aussie make a corrective move back to 0.76000 following an aggressive sell off from 0.77000 the week before. The market closed just below 0.76000 on Friday with a pinbar on the daily timeframe after price tested the level from below and failed to close above. On the daily timeframe this level is also currently acting as a neckline for a Head and Shoulders which could be signalling a trend reversal for the Aussie. Should price fail to close above this level again early this week, we could see a weaker Aussie with prices sinking lower possibly to around the 0,73000 levels.
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