The Australian dollar has moved more than 11 weeks in the downward direction. This week the pair is showing bullish strength, but now it has a level of resistance that is preventing it from moving up, which is the area of 0.9310; below this level there is much downward pressure. However, only a weekly close above this zone gives way to new maximums that could take it to the levels of 0.95 and 0.98. But at the moment we recommend selling with objectives to the nearest support of 0.9040. On the other hand, the Momentum Indicator is in overbought zone, which shows an imminent downward movement of the pair, for the next few days.
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