FX:AUDUSD   Australian Dollar / U.S. Dollar
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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

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