AUD/USD Flagging or Sagging?
Chart Prepared by Jamie Saettele, CMT
-AUD/USD is trading at a long term parallel (essentially the beginning of a resistance zone that stretches to the 2016 high at .7835) but the last week could be flagging before another push higher. The near term bias line is .7600. As long as price is above the figure, shorts are fighting an uphill battle. Even a drop below .7600 could see support near .7525 (December high).