AUDUSD Head & Shoulders still in play

Jun 29, 2021

What seemed 3 months ago as a failed Head & Shoulders pattern turns out to be actually still in play. This time however, the moves in the recent 2 weeks showed a clearer picture against AUD. We already broke down from the neckline, followed by the ideal retracement back to it which is the ideal short position entry. Target is the demand zone outlined in the chart.