Near Term Trend: Positive
Friday’s Close: 0.76694 (- 44 pips)
UPDATE: If Commodity Markets remain bid for 2017, it should bode well for Aussie $.
Nine weeks ago, our readers are aware, we warned not to short Aussie, and reminded them for several weeks following that comment.
Since that writing, Aussie rallied nearly 400 pips higher, and key resistance at 0.76000 was violated fourteen days ago.
It may be looking a bit toppy; trading range for the last three weeks remains compressed.