The Aussie completed a Head and Shoulder pattern and broke its neckline before Christmas. Now it is making a pullback move to test resistance. If the neckline makes a successful resistance, the H & S pattern will remain intact and its validity as a reversal pattern is confirmed. If the neckline is defied, there is a chance that the initial neckline break may be a bear trap and that Aussie will resume an uptrending move.

Aussie making pullback to test resistance of neckline