FX:AUDUSD Australian Dollar/U.S. Dollar
The AUD/USD has broken the kumo to the upside on the 4H chart. The pair is on a very impulsive run up but does seem a bit overextended. Therefore, we'd be looking for price to trade up to around the 0.87775 handle and then correct back to the kumo flat top, which lies at around 0.87250, which coincides with a 50% correction of this sequence. If price acts accordingly, it should also stay within the ascending trend-line, and would consequently make us interested buyers of this market, aiming towards the 0.88400 area.