Despite the pressure on the majors and relative shift towards risk aversion, the Aussie is being resilient with only a slight consolidation in its current rally.
However, the daily bollinger band (reached yesterday) might offer some great resistance. In this event, we would see a pullback towards the 1,05 former resistance which will be a key level to watch.
The studies are pointing to further gains and we will remain bullish on the pair until proven otherwise but it is not wise to consider a long position for the time being given the current technical setup.
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