AUD/USD analysis (July 25)

The Aussie has been outperforming last week. The high yield currency took advantage of the renewed risk appetite on a confused market driven by macro-economic events. The AUD/USD has closed above 1,08 key resistance (top of its range) which opens the door for a test of all time high at 1,10.
It is not the best moment to enter a long position as all studies are in overbought territory. Besides, the daily bollinger band seems to offer some resistance and we have to pay attention to that.