The Australian Dollar has been trading within a well-defined range for months now with AUD/USD now holding just below yearly-open resistance. The battle lines are drawn heading into August with major event-risk on tap next week- we’re on breakout watch. These are the updated targets and invalidation levels that matter on the AUD/USD weekly technical chart into the third quarter. Technical Outlook: In last month’s Australian Dollar Technical Forecast we noted that AUD/USD had turned from, “confluent resistance at 6890-6922- a region defined by the 61.8% Fibonacci retracement pf the yearly range and the objective ... (full story)