AUD/USD 4H Chart: Broadening Rising Wedge

The Australian Dollar is set to surge in the nearest future, after it penetrated an important resistance in face of 200-period SMA at 0.7186. Along with that, both weekly and monthly pivot points were successfully crossed. Now the most important objective includes a breach of the Sep 18 high at 0.7280, followed by the Oct 12 high at 0.7383. SWFX market participants support the growth scenario in 70% of cases, but the likelihood of more active bearish action is rising at the same time. Consolidation above 0.74 would allow for a climb up to 0.7584 in December, where AUD/USD will meet the upper edge of the pattern. Meantime, any potential losses should be contained by the 0.7120-90 support area.