…and tries to stay below broken neckline
The AUDUSD on the daily chart fell below a neckline on the daily chart last week, and also the 100 day MA (blue line currently at 0.7618). Both those were bearish technical moves and the price did extend lower. However, the swing low from February at 0.7563 did end up stalling the fall and the price rebounded on Friday and again today.
The high today retested the underside of the broken trend line and did find sellers, but the 100 day MA also held support.
So buyers and sellers are battling it out between those two levels. If the price moves back above the broken trend line, it would hurt the H&S idea and should lead to further upside momentum on the failed breaks.
Move back below the 100 day MA, and there is still hope for further downside momentum with the aforementioned Feb low the next key target.