The Australian dollar has formed a trend continuation pattern. Examining the daily chart, we can suggest that the upside potential may be up to 1.0650 and above to 1.08. At this moment, it is in a range market, and is likely to be found between 1.0460 and 1.03, we should expect a confirmation only if the pair closes above 1.0460. This is a bullish strategy; we do not recommend entering at current levels because the market has no exact direction, but the technical pattern is at its end and we expect a bullish move higher.
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