If you take your minds back a little you will remember all the frustration that 0.6550 level provided us with during the past month or so when it wasn’t going to be taken out no matter what was thrown at it. Well now that level looks like a line in the sand for short term traders and as such stops on longs should remain below 0.6550.
Overall i like the AUD/USD higher and above 0.6800 opens the way for 0.7500 later this year. The only negative for the AUD/USD is that the daily technical studies may be due something of a breather, but this could just mean we see 0.6550/0.6650 for a week.
