The (AUDUSD) appears to have halted the correction from early April, finding support at prior downchannel resistance (on the weekly chart).  Yesterday’s break above downchanel resistance (on the 4hr chart) gives a bullish bias to the triangle-like pattern (on the daily chart).  Odds are now high for a retest of the psychologically key 0.75 whole figure level before month end.  Watch for volatility to rise Friday following Powell’s comments, or on any escalation or ceasefire in the Ukraine-Russia conflict.  Except for the daily MACD which still slopes down, the weekly and daily RSI, Stochastics and MACD are bottomish or rallying.  I am long as of yesterday and today at 0.7435, although if I were flat, I’d look to go long in the green zone (of the daily chart), targeting the red zone for Wednesday.  The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I sometimes set my stops tighter).  Click here for analysis on EURJPY, WHEAT

AUDUSD Weekly/Daily/4hr

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