AUD/USD session outlook: Buying dips towards 1.0510/20 preferred

     The AUD/USD has broken up out of its weekly wedge formation and buying dips back towards previous resistance at 1.0510/20 now looks like the obvious play. Next technical resistance is at 1.0620 with barriers reported at 1.0650.

There is some minor economic data which is unlikely to cause volatility. Most movement will come from AUD/JPY, which is in a vertical bullish trend targeting a previous daily high at 88.65; support should now be firm near 86.50.

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