The AUD/USD has been coiling for a few weeks now. The bodies of the weekly candlestick bars have been getting smaller as price tested long-term support around 0.7650. This was formerly a major resistance level. In addition, it is also where a long-term bullish trend line comes into play. Thus, the fact that the AUD/USD is holding above this level is significant. Could we now see some range expansion to the upside? Well, judging by the price action on the daily chart, the move could be in motion already. Today the Aussie has probed liquidity on both sides of Friday’s range. First, it testing liquidity below Friday’s ... (full story)