AUDUSD is at a critical level as Monetary Policy Meeting Minutes are due tonite at 7:30. Prices pulled off the .618 Retracement of wave 5 and parrallel channel resistance. Any pull back below .8600 would be a cause for concern yet any trading above the parallel trend resistance line would surely provide a catalyst for more upside. All being said trading confirmed a macd divergence trade set-up, a bullish engulfing candle on the daily time frame and broke a inverted head and shoulders. Prices still look bullish in the bigger picture and bearish in the short time frames. Stop is currently at .8550
