The AUD has been consolidating for most of the last 6 months with a cap around .77 on the upside and putting in higher lows ! As per my experience this should be positive for a break higher BUT the long term trend has been to the down side ! On top of this we just had a bearish engulfing candle !!! As such I will wait to see which way the market breaks with a move above 0.78 being bullish and a break 0.74 first and then 0.71 being bearish ! Patience seems key here :-)
