To start this new week the Australian dollar looks poised to break through the long standing resistance level at 0.7850 however this level has stood up tall for several months now and won’t break easy. At the beginning of last week the Australian dollar fell sharply but landed on the previous key level at 0.77 which has offered considerable support since that time. A couple of weeks ago saw the Australian dollar enjoy a solid week moving off support around 0.76 to reach a three week high just shy of the resistance level at 0.7850. In doing so, it moved through the key resistance level at 0.77. Since the beginning of ... (full story)