AUD/USD falls back towards the head-and-shoulders neckline

Technical Analysis

Author: Adam Button | audusd

AUD/USD back in focus

AUD/USD back in focus
AUD/USD found a bit of breathing room from the neckline of a closely-watched head-and-shoulders pattern yesterday. But today it gave it all back and is now threatening a break lower.

Seasonally, April is a good month for AUD/USD, averaging a 1.24% gain over the past 20 years but that didn't hold up for four straight years from 2016-2019 so keep that in mind.

I think one of the best trades out there is betting against the RBA's yield curve control by selling 4-year Aussie futures. Whether they crack in April is a different story... it seems a bit premature.

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