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AUD/USD Struggles to Break Out above Key Consolidation Pattern

Discussion in 'Technical Analysis' started by Kaitlin, Jan 28, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    AUD/USD made a tentative breakout above a small, inverted head-and-shoulders pattern on Wednesday, but pared most of its gains by the afternoon. During the Asian session early Wednesday, Australia released its Consumer Price Index (CPI) inflation reading that showed a greater-than-expected increase in consumer prices, prompting AUD/USD to rise to[​IMG]

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