{"id":40774,"date":"2023-01-19T09:29:00","date_gmt":"2023-01-19T09:29:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=40774"},"modified":"2023-01-19T14:49:23","modified_gmt":"2023-01-19T14:49:23","slug":"audusd-technical-analysis-pattern-breakout-2","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/audusd-technical-analysis-pattern-breakout-2\/","title":{"rendered":"AUDUSD Technical Analysis &#8211; Pattern breakout"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"40774\" class=\"elementor elementor-40774\" 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-d6cf43a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d6cf43a\" 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-08c0fd9\" data-id=\"08c0fd9\" 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-079c2fb elementor-widget elementor-widget-text-editor\" data-id=\"079c2fb\" 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 started to correct lower against the greenback after the Australian employment report came in worse than expected, causing the Aussie to drop sharply.<\/p><p>Data showed that employment in Australia unexpectedly declined by 14,600 to 13.75 million in December 2022, missing market forecasts of a 22,500 gain and after a downwardly revised 58,200 jump a month earlier.<\/p><p>The latest reading marked the first drop in employment since July, with part-time employment dropping by 32,200 to 4,128,100, while full-time employment increased by 17,600 to 9,619,000.\u00a0<\/p><p>Going forward, the technicals look very bearish for the <a href=\"http:\/\/bit.ly\/2yFD0hu\" target=\"_blank\" rel=\"noopener\">AUDUSD<\/a> pair as it has formed a double-top price pattern. The Australian dollar needs to break above the 0.7000 handle against the US dollar to change the technical picture.<\/p><p>Sentiment is also alluding to more losses ahead aswell as the crowd is starting to become far too bullish, despite the over 100-point drop.<\/p><p>According to the ActivTrader market sentiment tool some 64 percent of traders are bullish towards the AUDUSD pair. As we typically look to fade sentiment biases, this could mean the AUDUSD pair could continue to reverse lower.<\/p><p>It is worth mentioning that high levels of bullish sentiment suggest a classic contrarian sentiment trade is still in the making, so do be careful buying this pair at current level, especially as we trade around current levels.<\/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-a514e55 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a514e55\" 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-533b8b5\" data-id=\"533b8b5\" 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-4d728f7 elementor-widget elementor-widget-image\" data-id=\"4d728f7\" 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=\"433\" height=\"166\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2023\/01\/AUDUSD-CHART-1.jpg\" class=\"attachment-large size-large wp-image-40794\" 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-f2c785d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f2c785d\" 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-db191f4\" data-id=\"db191f4\" 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-ccbafdc elementor-widget elementor-widget-text-editor\" data-id=\"ccbafdc\" 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 a large head and shoulders type pattern could be forming. We may see the AUDUSD pair forming a much larger reversal pattern if a drop towards the 0.6650 area.<\/p><p>If the pattern is correct then a move back to the 0.6000 to region seems plausible. If a strong breakout takes hold above 0.7000, then a rally towards 0.7200 resistance level might start to take place.<\/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-c172602 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c172602\" 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-085fe5f\" data-id=\"085fe5f\" 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-0f9e0d8 elementor-widget elementor-widget-image\" data-id=\"0f9e0d8\" 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\/2023\/01\/AUDUSD-4H-1.jpg\" class=\"attachment-large size-large wp-image-40799\" 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-36671a08 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"36671a08\" 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-5cd3cdbc\" data-id=\"5cd3cdbc\" 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-7d63a2b0 elementor-widget elementor-widget-text-editor\" data-id=\"7d63a2b0\" 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-ed51651 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ed51651\" 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-0c9d37f\" data-id=\"0c9d37f\" 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-f3dd0d6 elementor-widget elementor-widget-text-editor\" data-id=\"f3dd0d6\" 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>The daily time frame shows that a bearish double-top price pattern. These types of double-top patterns are typically considered to be one of the most reliable bearish reversal patterns.<\/p><p>According to technical analysis we could see a much more steeper price drop if bulls don\u2019t soon start to take charge. Selling a restest of the 0.6950 level area also appear to be another strategy for the bears.<\/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-c45f071 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c45f071\" 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-458a728\" data-id=\"458a728\" 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-02420f0 elementor-widget elementor-widget-image\" data-id=\"02420f0\" 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=\"550\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2023\/01\/AUDUSD-1D-1.jpg\" class=\"attachment-large size-large wp-image-40800\" 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-47422ed5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"47422ed5\" 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-21039f8d\" data-id=\"21039f8d\" 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-25e7d287 elementor-widget elementor-widget-text-editor\" data-id=\"25e7d287\" 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 started to correct lower against the greenback after the Australian employment report came in worse than expected, causing the Aussie to drop sharply. Data showed that employment in Australia unexpectedly declined by 14,600 to 13.75 million in December 2022, missing market forecasts of a 22,500 gain and after a downwardly revised [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":40789,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[52],"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 - Pattern breakout - 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-pattern-breakout-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AUDUSD Technical Analysis - Pattern breakout AUDUSD Technical Analysis - Pattern breakout\" \/>\n<meta property=\"og:description\" content=\"The Australian dollar has started to correct lower against the greenback after the Australian employment report came in worse than expected, causing the Aussie to drop sharply.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/audusd-technical-analysis-pattern-breakout-2\/\" \/>\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=\"2023-01-19T09:29:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-19T14:49:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2023\/01\/GettyImages-1453755590.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"603\" \/>\n\t<meta property=\"og:image:height\" content=\"385\" \/>\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 - Pattern breakout AUDUSD Technical Analysis - Pattern breakout\" \/>\n<meta name=\"twitter:description\" content=\"The Australian dollar has started to correct lower against the greenback after the Australian employment report came in worse than expected, causing the Aussie to drop sharply.\" \/>\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-pattern-breakout-2\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/audusd-technical-analysis-pattern-breakout-2\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"AUDUSD Technical Analysis &#8211; 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