AUD/USD Long

Price action has broken out of a long term bearish channel and formed a corrective flag pattern which has consolidated to the upper trendline of this channel. Considering the strength in the US dollar due to the news surrounding the rate hike last week AUD/USD has shown little movement to the downside with only a bearish corrective wave too account for the dollar strength. This indicates that AUD is still carrying some strength and a potential continuation to the upside is to come as the bulls seem to be in control of this market.