Earlier today, AUDUSD reached its next objective at 0.7740. I’ve had this level on my radar for several months. It’s the level we looked at in my recent AUDUSD commentary on December 21st. The key takeaway from that article was that Australian dollar shorts were attempting to trade against the momentum. In other words, there was a good chance they would get burned. Sure enough, the 0.7500 support area held, and AUDUSD went nearly straight up since that December 21st blog post. Before we go any further, here’s a look at the 0.7740 level between 2016 and 2017. Notice how the area served as resistance for more than a ... (full story)