The Aussie dollar has rallied a bit during the past week or so, as we are now testing the significant resistance barrier for short-term traders. Longer-term traders are likely to continue to look at a larger range.
The US dollar has rallied a bit in the course of the previous week, as we continue to question whether or not there is going to be a return to the “carry trade” that we had been in previously.
The US Dollar has pulled back against the Japanese yen, as we are looking at a market that will have to come to some kind of consensus as to whether the yen carry trade is over, or if is it simply pausing.
The Aussie dollar continues to look at the overall resistance barrier above, as the market is essentially sideways at this point, and therefore I have limited expectations for this pair. This being said, the pair is highly sensitive to risk appetite, and therefore you need to watch several other markets
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