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Australian Dollar Short-term Outlook: AUD/USD Battle Lines Drawn
The Australian Dollar surged nearly 3% off the March low with a breakout of the February range stretching into uptrend resistance last week. A two-day pullback responded to initial support today and the focus now shifts to a breakout of the weekly opening-range for guidance here. These are the updated targets and invalidation levels that matter on the AUD/USD short-term technical chart. Technical Outlook: In my last Australian Dollar Short-term Outlook we noted that, “the weekly opening-range is preserved within the broader wedge formation heading into Friday and we’re looking for the breakout to offer guidance ... (full story)