Aussie is breaking to a new high after a few weeks of a slow price action in 200 pip range which we saw it as a correction, but we thought it will be a deeper one. However, we have to go with the trend now, after a recent break to a new high, meaning correction is completed and the fifth wave in play. The upward projection is at 0.7 psychological level, but there is room even for 0.7050/0.71 while the price is above 0.67240. However, keep in mind that after every five waves correction follows, so if USD will get strong after US CPI report this week (if the numbers will be bad), and if stocks would drop then, Aussie can easily towards lower supports.
