AUD/USD Primary & Weekly cycles
when we look at the lesser timeframes we can see patterns that suggest the AUD should continue higher...
1. Consolidation above the 2016 50% level
2. March 50% thrust pattern and breakout of the MARCH highs.
3. Expectation it will now continue to trend up towards the April highs and continue in 2-month wave pattern upwards MAY highs and as high as the July highs (3rd Quarter)
Therefore the only conclusion is, the AUD is going higher. (PREVIOUS Report)
For those that are long I would look to take something off around .7828-50
The Primary trend remains strong, which could result in further gains in the AUD for the rest of the year (.8060 - .8160)
Taking partial profits around .7828 - 7850 protects you just in case it zag-zags down towards the 3-week lows once again before the next leg up towards the upper target.
