A ‘Head & Shoulders’ pattern was formed on the 15-minute AUD/USD chart, and it seems to keep increasing. The neckline penetration at about 0.93150 may activate buyers. The longer the price holds above this level, the more chances we’ll see the medium-term trend line breakthrough at about 0.93150. This may attract more buyers.

AUD/USD

The idea that more buyers will be drawn to the AUD/USD is also backed by the daily chart. After the reversal candle appeared near the long-term support level, the chart built a consolidation and seems to be ready now to keep moving. The long-term target is the resistance zone of 0.95000.

AUDUSD