Anyone going long AUDUSD the last several months has to love this pair. I'm still long from yesterday's buy at .9685 and have taken additional profits at +190 pips. I'll let the rest of it run or hit its stop which is at .9795.
Still…this pair is as overextended as any of them and I don't consider yesterday's dip to .9662 steep enough correction to make a real difference. Two weeks ago the pair stumbled a bit and this week it had a lower low than last week. But we may see another stab above parity. Note that unlike the Euro hourly chart I posted in the last post, this pair has no negative divergence on the hourly chart. But it is at resistance so let's see what happens.
Here's the hourly chart:
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