AUDUSD: Intra-day Bearish Structure

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When dollar is strong, we love to focus on clear bearish pattern, against some weak currencies which can be Aussie if we consider that five wave fall through January and down to Feb 09 low. More importantly, a bounce from there was slow and overlapping in seven waves; a clear corrective recovery which stopped at 61.8% Fib level. Also there is a chance for a H&S top formation if neckline is broken which can cause a drop down 0.78.

AUDUSD, 1H