Aussie Long Set up to 0.807 and 0.89

Price broke out from the falling wedge pattern on divergence (on lower TF chart).
Yesterday's candlestick formed a doji and we can expect a dip to 0.7705, a preferred level to take long positions
First target comes in at 0.807
Leave the second target to 0.89 (Long term, at least 2 months) and move to 0.78 when first target is reached.

Advantages:

• Initial risk is for a rally to 0.807
  
• On daily close above 0.781, move both trades to BE
  
• When trade 1 reaches TP, move trade 2 SL to 0.78
  
• Collect +ve swaps as well
  

Fundamental Risks:

• RBA could sit tight going forward on recent Q1 GDP print of 0.9% + better than expected jobs report
  
• FOMC next week see's no change but could maintain a hawkish view on rates
  
• USD likely to decline in the run up to rate hikes
  

Dollar/10yr Treasury spread chart below shows a potential rally to 42, which if holds could see a renewed decline to the downside after a break of the rising trend line. Next support at 36 and then 31 if 42 forms resistance.