Greetings to beloved forum mates and visitors! I hope this finds you in the best of health. The Australian dollar is increasing significantly, with a significant breakthrough above the 0.78 stage. This opens the door to a leap into the 0.80 marks. The Australian dollar spiked stronger to begin the trading session on Monday, only to change course and pull down to close the distance before pushing higher. Finally, this sector seems to be promising to regain the 0.80 range, which is of course a major resistance level. Although the limit stretches to 0.81 handles, I assume it will be challenging to move through it. But if it does this, it could push the stock even stronger, rendering it more of a “purchase” scenario.
At the beginning of the week, the AUD/USD retains its bullish momentum. Buyers widely overlooked Australia's mixed monetary policy data updates. Around its way to a better 11-week top of 0.7890 on Monday, the AUD/USD raised more than 100 pips and sustained its significant contribution. The AUD/USD tandem exploded stronger on Friday, pushing through resistance at the range top of 07814/18 to validate our central bullish trend, which is in line with the daily MACD's re-accelerating traction. The pair have both crossed above the next psychological barrier at 0.7838/49, inducing an inconsistent basing framework, with the next levels at 0.7900/05 and 0.8000/07 peaks. The pair were swapping at 0.7882, up 0.52 percent on the day. In the event of a selloff, I think the 0.78 stage will be supportive, accompanied by the 50-EMA. The 50-days-EMA under is a region that I assume would attract a positive response because it has propped up so well in the last few times.