Australian Dollar Technical Outlook

Similar to the EURUSD, the AUDUSD remains in a range but a bearish count is valid as long as price is below .8044. Until a break below .7786, bullish potential remains (potential inverse head and shoulders pattern is evident as well…which is bullish). I wrote yesterday that “a top and reversal is expected before .8162.” Bears should sit tight against .8044. Understand that confidence in direction is low until a break.