AUDUSD Next Leg Up

AUDUSD has been creating a bull flag for the past several days. Price has been supported by the 23.6% of the entire move which is also confluent with 50%. Price bounced from this strong support level and now we expect continuation to the upside possibly as high as round psychological number 0.70 which is confluent with the 61.8% and the -27% extension of the entire move. This confluence of technicals gives us confidence that a move up is on the horizon. From the fundamental side we know that the RBA is not planning on cutting interest rates for the remainder of 2019 which should also support the Aussie. From the sentiment side, progress in US China trade talks should also have a positive impact on the Aussie dollar. This is for educational purposes only. This is in no way intended to be financial advice. I am not a financial advisor.