The pair is evolving in a trading range between 1,0450 and 1,0790. The upper bound of the range has offered a great resistance lately and we might see a continuation of the move towards the daily 20 moving average around 1,06.
AUD/USD: daily chart
A break above 1,0790 though would confirm a bullish momentum. In this event, we would expect a test of all time high at 1,10.
Inversely a break below 1,06 would expose 1,0450.
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