On the weekly chart, AUD/USD tested the resistance level at 0.7260. It had a slight bounce by the end of the week, but I believe that a resumption and continuation of the uptrend is not far off. I am waiting for a breakout of the current resistance and further growth towards 0.7315. That's where I will be ready to try selling the pair, based on the overall situation in the majors. Overall, the trend towards a weaker dollar seems obvious to me, but that's until some negative news appears in the market. For now, the market is positive thanks to news about the Middle East. However, any escalation will immediately lead to a significant drop in this pair, and there are enough resistance levels on the chart for selling.
