Australian dollar tumbles to the lowest since August 19. Carves out H&S top ...Middle East

The Australian dollar chart has caught my attention today as it falls 76 pips, or 1.1%. It's the underperformer today as the US dollar strengthens broadly and risk trades are beaten up.A week ago, it looked like it could be breaking out as it touched the highest since January but the market is having second thoughts on the soft-landing thesis, along with more worries about China.That's prompted a rapid shift and now we have what looks like a head-and-shoulders top. The measured target of the move would be 0.6550. This article was written by Adam Button at www.forexlive.com.

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