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Chart Of The Day: AUD/USD

By Blake Morrow ForexApr 15, 2021 06:07PM ET
www.investing.com/analysis/chart-of-the-day-audusd-200573334
Chart Of The Day: AUD/USD
By Blake Morrow   |  Apr 15, 2021 06:07PM ET
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Last month, I noted AUD/USD was in a head-and-shoulder pattern. And, frankly, not a lot has changed. If you have been listening to the daily FACE webinars, or the exclusive Morning EDGE webinars for Forex Analytix clients, you would know that I always thought we needed more "symmetry" for this pattern.

A couple of weeks later and we continue to build out the right shoulder, keeping the head-and-shoulder pattern symmetrical. However, the pair should find resistance soon. If we are not capped by the .7800 level (or so), then we may make a move for the highs once again. With stocks at all-time highs and AUD/USD lagging, it's still possible we could move higher. Any move lower in global equities could reverse AUD/USD lower quickly, and this must be noted if you are a bull.

AUD/USD Daily Chart.
AUD/USD Daily Chart.

Chart Of The Day: AUD/USD
 

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Chart Of The Day: AUD/USD

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