The Aussie has been carving out a triangle in 2017.
The triangle has completed waves a-d.
We are in the early part of the e wave.
Looking for price to move to trendline resistance at .7730 - .7750 , to complete wave e and the larger Wave 4 correction.
From there price to move down with the impulsive 5th primary wave.
( The triangle pattern is invalidated with a close beneath wave D @ . 7325 )
A possible trade for long would be
Enter now.
Stop .7300
Target .7750
Risk reward 1.9.
This is not a scalp ,and likely the trade will be over the medium term ( weeks ) .
The triangle has completed waves a-d.
We are in the early part of the e wave.
Looking for price to move to trendline resistance at .7730 - .7750 , to complete wave e and the larger Wave 4 correction.
From there price to move down with the impulsive 5th primary wave.
( The triangle pattern is invalidated with a close beneath wave D @ . 7325 )
A possible trade for long would be
Enter now.
Stop .7300
Target .7750
Risk reward 1.9.
This is not a scalp ,and likely the trade will be over the medium term ( weeks ) .