Australian Dollar Technical Outlook

The AUDUSD advance has accelerated and price has pushed through .9486 (former support), confirming that the decline from .9653 was corrective and that the AUDUSD is headed to a new high as we have long suspected.

“The rally from .8952 is wave C of a large 5th wave diagonal that could extend to a measured objective just below 1.00 in coming weeks (.9936).” Risk can be moved to .9402

STRATEGY: Bullish, against .9402, target