Australian Dollar Technical Outlook

We moved risk to a very tight level yesterday mentioning that “we have moved risk to such a tight level because very short term, the advance from .9290 is impulsive, suggesting that a bottom is in place.”

The AUDUSD has soared today and is half a penny within an all-time high. A break to the upside could lead to a test of a target near 1 (.9936). Near term support is at .9440.