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AUDUSD: Bullish Head and Shoulders at a 0.786 Retrace

Long
Dollar Australien/Dollar Américain (OANDA:AUDUSD)  
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OANDA:AUDUSD   Dollar Australien/Dollar Américain
Chart Patterns Technical Indicators Trend Analysis USD invertedheadandshoulders Bullish Engulfing
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chartpattern indicator trendanalysis usd invertedheadandshoulders bullishengulfing
AUDUSD appears to have confirmed the potential right shoulder of a Bullish Head and Shoulders pattern after Bullishly Engulfing with Bullish Divergence at the 0.786 Fibonacci retrace. If it plays out I think AUDUSD has potential to go all the way up to the 61.8% retrace at $0.70, from there I think the bearish trade would continue.

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