AUD/USD stalls below 0.9240

FXstreet.com (Chicago) - AUD/USD seems to reveal a H&S pattern formation and trades around the neckline close to the 0.9230 front. After Stevens’ comments yesterday, the Aussie saw its value decline considerably against the greenback that, in the contrary, strengthened on stronger US job market results. So far, weekly losses are greater than 150 pips.

AUD/USD Technical Levels

Consolidating a reversal that ended after the pair seemed to find solid grounds on 100 pips daily loss, the pair struggles to get out of 3-month lows. Offered at 0.9244, the pair oscillates between the supports aligned at 0.9191 (September 3rd highs), 0.9122 (September 6th lows) followed by 0.9077 (August 25th highs) and the resistances aligned at 0.9247 (September 13th highs), 0.9285 (November 14th lows) ahead of 0.9333 (October 2nd lows). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bearish and navigates below the EMA20.