After breaking above the descending channel that it has traded within for more than a year, the Australian dollar has failed to gather much momentum against the greenback and once again appears to be struggling to push on. I highlighted on Tuesday (AUDUSD – Bullish Breakout Unconvincing) that while the move above the channel should be a very bullish move, it hasn’t looked very convincing and while Friday’s high was broken, the same remains true. The pair hit a new one month high on Wednesday but has already stalled again and we could now be seeing a bearish reversal pattern forming. Following Tuesday’s bullish ... (full story)