The pair is still evolving in a daily range between 1,0450 and 1,0790.
We have seen the pair rallying to the top of its range last week and we now wait for either a breakout or reversal.
AUD/USD: daily chart
A break above 1,08 exposes all time high at 1,10. Inversely, a break back below 1,07 exposes 1,06 and then the bottom of the range.
It is worth noting that the studies show overbought levels on the daily chart which might warn for a potential reversal soon. We will see how things evolve in the beginning of the week and adjust our analysis accordingly.