AUD/USD has risen to test the region close to our favoured short entry location, falling short of the 1.0350 target price, reaching 1.0346 so far.

If a break under 1.0263 is realised before filling this strategy, we will remove it from the report.

Longer-term we continue to expect the completion of a large topping formation with scope for a substantial swing lower.

We would view a sustained break over 1.0475 as a signal of further near-term strength.

Daily Technical Report