AUD/USD: 4-hour

AUD/USD 4-hour Chart

Will it be a bounce or a break? After bouncing from the bottom of the rising channel around 1.0200, AUD/USD is now sitting right at the top of the channel close to the 1.0500 handle. Although the uptrend seems to be strong, stochastic is already in the overbought zone, hinting that Aussie bulls could use a break. If AUD/USD is unable to sustain its upward momentum, it could head back south and test the bottom of the channel again!