Hi traders!

I am looking at the Aussie dollar and I can see a head and shoulder pattern forming at the moment. AUDUSD DailyAs long as the price does not fall below 0.93 and closes below that on the daily time frame, I can see this pair going one direction and that is UP! Also, of course that the price does not break the up trend channel that is still intact.

Once price closes above 0.942, we can have a chance at the price targeting levels as high as 0.97. Yes, that price level is possible. Its nearly 400 pips from where we are now. Anyway, thank you for reading my analysis and good luck to your trading.

~ Ardy