-
AUD/USD Consolidates Near 2016 Highs Ahead Of Aussie Minutes
AUD/USD may be on pace to end a six-day winning streak as resistance from last year’s highs has held the pair lower today but the pair posted an impressive rally last week with a technical break that points to more upside over the medium-term. AUD/USD printed the highest weekly close in over two years after breaking above trendline resistance last week. The trendline connects the April 2016 high with the high posted in November 2016 and had held the pair lower on several tests earlier this year. In addition to the trendline break, last week’s bullish push has taken it out of a range that has been playing out ... (full story)