The Australian dollar has traded within a descending channel against the greenback for more than a year now but in the last couple of days it appears to have finally broken above it, which could be a very bullish signal. The pair broke above the channel on Friday and despite seeing immediate downside pressure on Monday, ended the day back above, which could act as confirmation of the break. It is also trading back in the green today. The 100-day simple moving average has also been broken in the process, having provided resistance on a number of occasions over the last six months. While all of this may be the case, I ... (full story)