Australian Dollar Bullish Pattern

This morning?s price action is very bullish following the decline from the top is in a corrective 3 waves - thus we are suspending our bearish forecast.

The pair has pushed through the midpoint of the short term channel (see chart below), which gives scope to a test of channel resistance near .8300 (more bullish potential exists on a break above .8300). Short term support should be strong at a reaction high from Friday at .8222.