Selling opportunity ahead in the currency pair. The Pair has formed a Double Top, a breakout of Double top will be an opportunity to enter short in the pair. 

Double Top is a reversal pattern. At higher level the pair has formed a harami pattern and the pair has corrected forming a resistance at higher level.

For going short the pair has to close below the neckline. Once the pair is able to close below the neckline selling pressure can be seen in the pair. Pair is trading below the Fast as well as Slow EMA indicating a negative direction.

Advice : Sell if the pair closes below the neckline.

AUD/USD

May 22 2022