Exclusive: AUD/USD: Pending Bullish Signal On A Weekly Close
Price achieved our downside target at 0.7150/00 in late December before launching an impulsive uptrend in January. Bullish monthly reversal pattern in January confirmed a reassertion of the MT/LT uptrend. This has been confirmed by the recent bullish triggers in MT momentum. Current upswing has fallen marginally short of our initial target (trend channel base at 0.7800/20). A weekly close above 2016 highs at 0.7835 will ultimately target 0.8150/0.8300 in the MT.