AUDUSD – Trend Reversal Chart Pattern
Australian Dollar/U.S. Dollar FX:AUDUSD
The price forms Inverse Head & Shoulders pattern. It gives a trend reversal signal but for confirmation the reversal chart pattern, we will have to wait for a breakout above the neckline. Pending orders for buy can be placed above the resistance level and swing high. It’s 0.70550 level. Stop orders must be placed below the right shoulder. Profit targets are at the resistance levels.
Source: TW DLavrov