AUDUSD: Possible H&S setup, could be heading to 0.72

If we take into consideration that there is an unfinished H&S pattern in play, and the fact that the upper area of a bigger triangle has been hit, we can conclude that this setup might be valid. Take a close look at the stochastic as well, it’s informing about the fact that AUDUSD has been slightly overbought.

Keep a close eye on the CPI release, it might invalidate this setup. Good luck!