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.
Comment:
Australian dollar is finishing off the right shoulder. Watching USD to see what direction it will take. USD rose Friday on strong support.
Comment:
AUD appears to be creating a bear flag at .7084. Neckline comes in at .7026. First target would be getting to support at .7058
Comment:
AUD almost at neckline. June has already made that target.
Comment:
AUD now at neckline.