AUDUSD - 4H - WAITING FOR A BREAKOUT TO GO LONG

AUDUSD looks like it's poised to break to the upside after a recent sequence of higher lows that suggest buyer pressure. Of course we have to be mindful of the Fed meeting this Wednesday that may result in a lot of volatility in the opposite direction testing the blue support zone. Should the buyers win this battle by breaking the 0.7800 barrier we expect the move will be good for at least 120-150 pips.