Ransquawk

The Australian currency has been relatively strong recently. Reflection is clearly visible after a long period of decline on AUD/NZD. The daily chart highlights the high growth dynamics. Last Friday there were stronger declines, which decelerated on strong support. A strong rebound on Monday led to the formation of the bullish market, which in the context of support and the trend has definitely positive meaning. The following days brought moderate increases. It seems that the end of the week should be successful for bulls because the course seems to attack the current maximum of the trend. The breakout should, in the long run, result in reaching this year’s highs.

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