AUD/USD analysis (July 22)

The pair did finally manage to break above the upper limit of its daily range at 1,08. We now consider that the market will resume its long term uptrend which is confirmed by the rising weekly 20 moving average.
We expect a new test of the all time high at 1,10 and the long term charts are showing a higher potential.
We will pay a close attention though to the weekly close as we want a clear confirmation of the bullish resumption.