AUD/USD: Hoping for weekly close above .7150

Talking my position as always. The AUD/USD has a nice constructive feel to it and I’m emboldened by the fact that the market is so bearish at multi-year lows. From a short-term perspective, I still expect dips to be limited to 60/80 pips.

The main level I’m watching on the topside is .7150 and a weekly close above there should hasten my initial target at .7385.

On the crosses, I still like the short GBP/AUD play and selling rallies towards 2.0425 makes good technical sense.

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