The Aussie has formed a small double top and highlights a bearish rejection at the psychological 1.0000 level. The formation of a rising wedge accompanied by diverging hourly studies hinted at a possible reversal before the "risk on" trade rolled over in the North American session. Averaging the 3 largest corrections within the latest leg up projects a pullback to the .9762 swing low. As such, I am looking just above that region to reinitiate a AUD/USD long position.
STRATEGY: BUY at .9782, risking .9727, targeting 1.0022
