The AUD stalled at potential right shoulder, however given the US unemployment figure and the lack of follow through on the USD we see little conviction to stick with the bears at the top of the pond.
Technically the flag has stalled at the immediate 618 retracement which I have highlighted on the chart as Natural Support. We have our good old mate projecting confluence at 1.0245 with the immediate 127 extension for the flag and 161.8 extension for the swing.
Look for a break of 1.0150 with the view that price appreciates to 1.0240 and consider 1.0900 as a trend reversal.
* Chart Source: eBridge Trader
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