Bullish: AUD/USD is currently at 0.6687 after the pullback in a range and a channel. We are looking for a continuation to the ATR target at the 0.6750 area with a further target at 1.618 Fibo at 0.6780.
We have convergence in play for the move. Watch the USDX for direction. The average daily true range (ATR) for the pair is 79 pips, and its 180-day average is 95 pips per day. USDX is currently moving down.
