


As per chart. read my linked idea for longer term analysis
SELL AS PER CHART. SEE THE DAILY ANALYSIS FOR MY VIEW OF WHY!
Fitting in with the daily analysis and the downturn in the trend sell as per the chart
The strong rising trend we have seen in the last few weeks has started to show signs of weakening. The trend line has been broken and showing signs of new resistance the candles are showing reversal signs and low volume on the test of that trendline and the RSI is making lower troughs. Look at my hourly analysis to see an entry point on this trade.
a little awkward head and shoulders reversal pattern has developed. Volume on the recent near term uptrend is weak suggesting the trend line could push this lower. However, there is a better signal on the AUD/USD
As you can see we have an interesting double top that dates back to 2016 we are reaching a critical point in that pattern that could result in a huge downside move to 09500. Alternatively, a break out of the current downside channel which has already been whipsawed could see a return to the tops to create a triple top. The fundamentals point to a stronger dollar....
A clear head and shoulders reversal pattern is evident on the daily chart and with the 21 day and 5 day moving average now crossing we should enter a downtrend
Reduced volume on the recent uptrend and divergence in the peaks and troughs of the RSI to price action suggests a change in trend
Risk - against a new emerging daily trend - high buy as per the chart