FX:AUDUSD   Australian Dollar/U.S. Dollar
Waves are sometimes better seen in a candle stick chart. Although AUDUSD             has yet to exceed its April high, momentum divergence is present as AUDUSD             did make a new closing high. I give more weight to divergence when RSI is below 70 (below 60 is even better), which is the case now.
.9362 is estimated support in AUDUSD             . Failure to hold that level would put the near term constructive view in doubt.

*RSI isn’t on this chart but the commentary remains valid.

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