According to Greg Gibbs, Analyst at Amplifying Global FX Capital, technically, the AUD is at an interesting juncture as it has broken above its recent highs in the last month around 0.7580/.7600, and these levels might now provide support.
Key Quotes
“It has been in a downtrend since January and it is also facing resistance around previous lows in March, and an uptrend line over the last two years that it broke below in April. That line is now a resistance level.”
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