© Dukascopy Bank SA
Most likely the currency pair will not continue its bullish trend for much longer since the pattern's trading range is becoming very narrow. However, the break-out is very much anticipated. Even though the 4H and daily technical studies are bullish, we are somewhat sceptical of the pair surpassing the psychological level at 100. Also, the majority (61.38) of the SWFX traders' think that the Aussie is overbought already and the pair is likely to decline.
© Dukascopy Bank SA