AUD/USD: Still looks reasonably constructive but….
- Technical picture shows a shallow basing pattern (see chart).
- Risk-reward favours buying dips with stops below recent lows.
- USD bull-bubble has been deflated, but not yet burst.
- EUR/AUD is nearing important resistance levels again, but AUD/JPY is looking bearish again and a break below 89.35 will trigger more selling.