Since the AUDUSD rallied from the late North American session selloff from a couple weeks back, the rally has stalled at the 200DMA.
The US Dollar has given up ground today as the FOMC statement and press conference came off fairly dovish.
Back on January 3rd, we blogged about a smaller time frame USDNOK head and shoulder pattern developing, and now a longer term one is taking shape.
The USDJPY bounce may have stalled at the 50% retracement as we are building as ascending wedge.
The EURGBP is about to trigger a double top pattern as we test the 88% retracement on the daily chart.
The DXY has developed an ascending wedge as we stall near the 50% retracement of the last move lower.
The AUDJPY spiked past resistance and tagged the 61.8% key Fibonacci retracement and also the channel resistance.