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Technician

AUDUSD: Short term pullback to extend

Short
Australian Dollar / U.S. Dollar (FOREXCOM:AUDUSD)  
Technician  
FOREXCOM:AUDUSD   Australian Dollar / U.S. Dollar
Chart Patterns Double Top or Bottom
47
8
chartpattern doubletoporbottom
Hello TV Fellows,

AUDUSD has completed a short term double top formation by breaking its neckline at 0.7174. Meanwhile, RSI has been signalling a negative divergence, as it failed to follow the price action and make new highs.

I expect a retest of 0.7070 main short term support area. Approximately a 100 pips potential.

Kind regards
Tech.
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