Australian Dollar Technical Outlook

The AUDUSD advance is tracking our preferred count, confirming that the decline from .9653 was corrective and that the pair is likely headed to a new high.

In fact, the decline from .9563 is what we want to highlight.  Since that drop is clearly in 3 waves, it is highly probable that the AUDUSD will head to a new high.  We had thought that a correction would unfold as a small 2nd wave yesterday but that has yet to happen.  If a correction does unfold, then take advantage.  Look for support near .9492.    

STRATEGY: Bullish, against .9327, target TBD (but a corrective decline would present an opportunity to add to longs/join the party)