Ransquawk

Australian currency has been doing quite well lately. It is able to resist even an extremely strong dollar. It is on this currency pair that there may be an upward rebound. The weekly chart indicates a potential deceleration of declines, and the long lower shadows of the last few week candles suggest a movement to the north. Such a reflection would perfectly fit into the system of increasingly high highs and high lows, which has been going on for two years. On the other hand, D1 shows that this year we already had three comparable growth adjustments. The current rebound may well be just another correction. In the short term, however, the rate should increase slightly.

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