Australian Dollar Breaks Through Moving Average Resistance

Commentary: There is no change to the AUDUSD as the pair has formed a base near .8650 and the rally may be ready to accelerate. “The decline from .9399 could be just an a-b-c decline. This is suggestive of a resumption of the uptrend and eventual rally through .9399. The other count is bearish and suggests that an a-b-c flat correction is unfolding from .8753. In either case, price is expected to exceed .9068.”

Strategy: Bullish, against .8653, target .9140