novvoll12
Long

AUDUSD .8005:An 8-month falling trendline breakout points higher

FX:AUDUSD   Australian Dollar/U.S. Dollar
87 0 0
AUDUSD             rallied strongly off the .7559/.7532 lows through an 8-month falling trendline and then the .7937 range high (March 23, 2015) to confirm a double bottom (a 12-week base) and trigger further upside towards .8294 (January 12, 2015 lower high) then possibly .8342 (.7532-.7937 from .7937) base target. On a pullback, the .7790 support area (April 27, 2015 weekly low) should hold dips. A break below there would caution for further weakness towards .7759/.7532.
Outlook:
Short term: bullish
Long term: neutral
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