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  • AUD/USD bulls are in charge and are carving out a bullish Reverse Head & Shoulders. 
  • Current support is fortified with old resistance and the 50% mean reversion level.

As per the prior analysis, AUD/USD Price Analysis: Bulls seek a daily continuation impulse from 4-hour support, the price indeed extended to the upside.

Prior analysis

The current state of play

Reverse Head & Shoulders

A bullish Reverse Head & Shoulders is in the making following the recent price action, adding further conviction to the upside narrative.