The Australian dollar strengthens after having reached the level of 0.9593 forming a double bottom figure technique, which increases the probability of an upward movement for the next few days. At least to the level of the second weekly resistance, 0.9944. From the geopolitical point of view, this pair is linked to the Japan's economy, because last week we noticed a recovery of the yen is likely to appreciate also the Aussie. On the other hand, if you look at the chart, during the Us session this morning the Australian dollar was trading this morning near the weekly pivot point. This level is key to determine the change in trend, so we must wait for a daily close above 0.9695 to buy, with a first target 0.9798.
On the other hand, if you look at the chart below, it shows the breaking Momentum Indicator MACD line, which begins to give a bullish signal to the Aussie for the next few days.
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