Unlike the range of the previous falling wedge (in blue) that took us from .81 to .75 , The speed and range of the current rising wedge (in yellow) shows us that the commodity linked currency is mercilessly in hot demand. Pullbacks are shallow and the speed at which price has increased has left us in a quick and narrow range. When a top is reached around.7865 range (which is also target price of the inverse head and shoulders in GREEN) The correction should be short and shallow, probably not passing further than .7750 Once correction is over, it should be a good clean shot to .8200 or further.
Update: Price has created an ascending Triangle so even though it looks frothy, with the choppy price movement, there are still gains to be made here. Target 2 is .7890. Stop losses under .7814.