 Hi guys, it's Ian from OSB FX. It is Wednesday the 19th of April 2023 It's just gone 10 o'clock in the morning in the UK. My focus today is on the Australian dollar against the US dollar I believe we've got an interesting pattern forming, but firstly I want to look at the dollar index This is DXY. Let's get to the charts So the dollar index, this is the 4-hour chart I believe that the eventual bias will be to the downside once we complete a bearish bat formation close to 102, 67, 102, 71 Now with that in mind, I think that we're currently in this corrective leg to the downside, this BC leg lower This leg is notoriously hard to predict and analyse and trade But we do have some bespoke resistance today located at 101.65 And we can see rallies up to that level this morning are finding selling interest With that in mind, a dollar bearish bias should give me a bullish bias on the Australian dollar against the US dollar Let's have a look at that chart Here I'm looking at the 1-hour chart I've got some bespoke support located at 0.6704 A move to the upside and again we'll complete a bat formation between 0.6788 and 0.6791 If the currency pair breaks the previous swing low of 0.6781 This technical outlook will be invalidated Okay, just to reiterate what we've talked about, we've talked about the dollar index The fact that we've got the potential for the dollar to move to the downside That in turn could project Australian dollar against the US dollar higher A bat formation looks to target 0.6788 to 0.91 A break of the swing low at 0.6781 And this outlook is negated Okay guys, good luck today and I'll be back again soon with some more reports Many thanks