AUDUSD: Are The Bears Back?

Ausdusd is currently testing the right shoulder of the daily head and shoulders formation that became invalidated when the pair burst above that level (.9890) In spite of this support, the price action is extremely bearish. There was an initial bounce to .9994 on the 4-hour timeframe in reaction to the daily support. This was however, quickly sold off. The current price action, along with the set of double tops on the weekly Read more ยป