Aussie closed above 100 DMA on a weekly basis for the first time in six months. In addition, it broke and closed above a descending trendline drawn off of September 2014, May 2015 and October 2015 highs.

It appears that it is headed to retest October high near 0.7380. Potential target is seen between 0.74 and 0.75, which is currently hosting 200 DMA. The pair is pulling back in the early Monday trade but the decline shall stop somewhere in the 0.7100 - 0.7050 region, provided that the above hypothesis is correct.

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