Fundamental Analysis
After the Rate Hike from the FOMC to 1.625 was priced into the market the AUD/USD broke out of its channel to the upside. As I said in the previous trade idea for the AUD the economy is improving after its transaction from the mining sector and I expect it to remain buoyant going through 2018. I will be keeping an eye on wage growth and jobs over the next 6 months but for now I would expect to see a correction to the upside.
Technical
As you can see from the chart the AUD/USD broke through resistance at 7718 and pulled back to the same level after hitting 7780. I am looking for this level to be tested again with a stop below the lower support level.
I will be trading this on Automation with the triplesystemEA with the breakout settings and scalp setting activated