AUD/USD aims back to .9520/30 and higher to .9665/9725
A modest setback into the end of last week, but still above modest support at .9320 and within the range from the Wednesday aggressive rally.
Having hit our .9520 target, 38.2% retrace of the 2013 sell off, we view this activity as corrective and see bullish pressures intact since the push through the previous target area at .9315/45 June/ July failure peaks and the prior reversal of the down trend from April.
We now see risk into late Sept to a chart hurdle/50% retrace, .9665/9725.
Overshoot threat is to the falling 200-DMA, .9860
WHAT CHANGES THIS?
Below .9320 now needed to ease bull risks, only shifting.
Please see latest audio-visual analysis here: