Near Term Trend: Bullish
Monday at 4AM EST: 0.78056 (- .00198)
UPDATE: Last week, I suggested buying AUDUSD at 0.75029 with an upside target of 0.81455 and with stops on a close below 0.74985.
The AUDUSD resumed its recent upside momentum last week and broke out to new short-term highs. This is clearly a buy the dips trade if there ever was one.
I would now be looking to buy AUDUSD on a pullback to 0.76947 with an upside target of 0.81503 and with a stop below 0.7572.