Australian Dollar Technical Outlook

The AUDUSD is most likely working higher in a c wave that should end above .70.

Near term, price ideally remains above Friday’s at .6486 although the trend is up as long as price is above .6287. Trading above .6806 (which is expected) would enable bulls to move risk to .6486. For traditional chartists, an inverse head shoulders is evident and price has just broken above the neckline.

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