AUDUSD - Inverted H&S in play since 2014-03-20

AUDUSD - Inverted H&S in play since 2014-03-20

Posting this chart for future reference, either as a valid pattern (against RBA policy expectations), or a nice example of pattern failure...

Entry: 0.9050 (trigger line)
Stop: 0.8885 (below the right shoulder)
Target: 0.9490 (inverse H&S target projection)

This one is purely technical and don't take into consideration the news.

Reasons to validate the inverted H&S:
- April-November 2013 down trendline breakout
- H&S trigger line breakout
- 100dma acting as support on 2014-03-20
- 200dma crossed on 2014-03-25 without sellers entering and rejecting it

On potential retracement of this breakout up move I'm expecting either:
-200dma to hold at 0.9144
-Retest / kissback of the brekout trendline in the 0.9090 area.

- Ultimately 0.8922 swing low should hold.

Now, let's have the market make his move and prove the pattern wrong, or give us the reward...