AUDUSD completes a negative pattern – Analysis - 20-12-2018

The AUDUSD pair traded with strong negativity yesterday, to complete forming a head and shoulders pattern that appears in the image, getting an extra negative motive that supports the expectations for the bearish trend continuation, where the price approaches from our initial waited target at 0.7080, waiting for more of the downside moves to visit the recorded bottom at 0.7020 as a next station.

Therefore, the bearish trend will remain the dominant in the upcoming sessions, being aware that breaching 0.7140 might push the price to test 0.7277 levels before any new attempts to decline.

Expected trading range for today is between 0.7020 support and 0.7140

Expected trend for today: Bearish