Analysts at Bank of America Merrill Lynch say to short AUD/USD at 0.9308 (spot at 0.9304).

They say the pair should be sold “right now” with a target of 0.9182 and a stop-loss at 0.9350. They say the pair has completed a 7-week head-and-shoulders top and that a close today below 0.9312 would reinforce the negative view.