{"id":27793,"date":"2022-05-12T09:01:00","date_gmt":"2022-05-12T08:01:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=27793"},"modified":"2022-05-13T12:39:36","modified_gmt":"2022-05-13T11:39:36","slug":"audusd-technical-analysis-head-and-shoulders-formation","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/audusd-technical-analysis-head-and-shoulders-formation\/","title":{"rendered":"AUDUSD Technical Analysis &#8211; Head and Shoulders Formation"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"27793\" class=\"elementor elementor-27793\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a06ea0a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a06ea0a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-02ac2b7\" data-id=\"02ac2b7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a29c3a0 elementor-widget elementor-widget-text-editor\" data-id=\"a29c3a0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The Australian dollar has been crashing sharply lower against the greenback as risk-off sentiment remains at heightened levels, with stock markets continuing to plunge amidst a number of market risks prevailing.<\/p><p><a href=\"http:\/\/bit.ly\/2ZsFzPL\" target=\"_blank\" rel=\"noopener\">Gold<\/a> and Iron ore prices traditionally have a strong price correlation with the Australian dollar, and both are under. Potentially, this could explain why the <a href=\"http:\/\/bit.ly\/2yFD0hu\" target=\"_blank\" rel=\"noopener\">AUDUSD<\/a> pair continues to rise on the foreign exchange market.<\/p><p>The AUDUSD pair also has a reasonable correlation with technology stocks. As both tech-stocks and gold start to falter it is not surprising to see the Australian dollar getting hammered.<\/p><p>Australia is a huge exporter of commodities. And this week\u2019s Chinese export growth data showed a huge decline in the world\u2019s second-biggest economy as exports increased just 3.9 per cent in April from a year earlier.<\/p><p>This news headline sent the Australian dollar crashing broadly. Worryingly, Premier Li Keqiang recently warned of the \u201cgrave\u201d situation facing employment in the country and vowed to intensify efforts to stabilise job market disruptions.<\/p><p>Rising COVID-19 cases in China could present a challenge for the Australian, plus new lockdowns and outbreaks in Beijing and Shanghai could see this situation continuing for some time to come.<\/p><p>According to the ActivTrader market sentiment tool some 62 percent of traders are bullish towards the AUDUSD pair, which to me still suggest further AUDUSD losses in the short-term if we apply a contrarian mentality.<\/p><p>In order for the AUDUSD to really build sustained upside momentum we probably need to see a stronger bearish sentiment bias towards the Aussie emerging. As things stand, the bullish sentiment should see the AUDUSD continue to push lower.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-baf391f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"baf391f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-152b2c8\" data-id=\"152b2c8\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f04de2b elementor-widget elementor-widget-image\" data-id=\"f04de2b\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2yFD0hu\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"439\" height=\"170\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/05\/AUDUSD-CHART.jpg\" class=\"attachment-large size-large wp-image-27819\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c064f5a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c064f5a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-eef156e\" data-id=\"eef156e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-65c0289 elementor-widget elementor-widget-text-editor\" data-id=\"65c0289\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><strong>AUDUSD Short-Term Technical Analysis<\/strong><\/p><p>The four-hour time frame shows that the AUDUSD pair has formed a bearish head and shoulders pattern, with the pair already breaking the neckline of the pattern, close to the 0.7000 support area.<\/p><p>Furthermore, the AUDUSD pair is really now in freefall. I would expect the price to test 0.6700 and then start to reverse based on the fact that these patterns can produce minor bounces once played out.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5da487b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5da487b\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8bbd8df\" data-id=\"8bbd8df\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f033fc4 elementor-widget elementor-widget-image\" data-id=\"f033fc4\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2yFD0hu\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"936\" height=\"552\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/05\/AUDUSD-4H.jpg\" class=\"attachment-large size-large wp-image-27820\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-506e8100 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"506e8100\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4a342c18\" data-id=\"4a342c18\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-31f7b1ff elementor-widget elementor-widget-text-editor\" data-id=\"31f7b1ff\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"http:\/\/bit.ly\/2yFD0hu\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6dc2be6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6dc2be6\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c2d2397\" data-id=\"c2d2397\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-059a5d5 elementor-widget elementor-widget-text-editor\" data-id=\"059a5d5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><strong>AUDUSD Medium-Term Technical Analysis<\/strong><\/p><p>Looking at the daily time chart the AUDUSD pair is currently working its way through the lows of last year and has now comfortably found a much lower trading range below the 0.7000 cents levels.<\/p><p>Lower time frame and higher time frame analysis are currently aligning, so we should expect further selling towards the 0.6700 and 0.6500 support zone.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-677c332 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"677c332\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-640740c\" data-id=\"640740c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e2555bc elementor-widget elementor-widget-image\" data-id=\"e2555bc\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2yFD0hu\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"936\" height=\"554\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/05\/AUDUSD-1D.jpg\" class=\"attachment-large size-large wp-image-27822\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-33cd418f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"33cd418f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2c126a1f\" data-id=\"2c126a1f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1afd3ae elementor-widget elementor-widget-text-editor\" data-id=\"1afd3ae\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"http:\/\/bit.ly\/2yFD0hu\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The Australian dollar has been crashing sharply lower against the greenback as risk-off sentiment remains at heightened levels, with stock markets continuing to plunge amidst a number of market risks prevailing. Gold and Iron ore prices traditionally have a strong price correlation with the Australian dollar, and both are under. Potentially, this could explain why [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":15512,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[52,28],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>AUDUSD Technical Analysis - Head and Shoulders Formation - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/audusd-technical-analysis-head-and-shoulders-formation\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AUDUSD Technical Analysis - Head and Shoulders Formation AUDUSD Technical Analysis - Head and Shoulders Formation\" \/>\n<meta property=\"og:description\" content=\"The Australian dollar has been crashing sharply lower against the greenback as risk-off sentiment remains at heightened levels, with stock markets continuing to plunge amidst a number of market risks prevailing.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/audusd-technical-analysis-head-and-shoulders-formation\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-12T08:01:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-13T11:39:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/09\/GettyImages-1137545339.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"504\" \/>\n\t<meta property=\"og:image:height\" content=\"305\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"AUDUSD Technical Analysis - Head and Shoulders Formation AUDUSD Technical Analysis - Head and Shoulders Formation\" \/>\n<meta name=\"twitter:description\" content=\"The Australian dollar has been crashing sharply lower against the greenback as risk-off sentiment remains at heightened levels, with stock markets continuing to plunge amidst a number of market risks prevailing.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/audusd-technical-analysis-head-and-shoulders-formation\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/audusd-technical-analysis-head-and-shoulders-formation\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"AUDUSD Technical Analysis &#8211; 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