The Australian Dollar has been acting immensely strange against the US Dollar since Friday. The main reason was the appreciation of the US Dollar due to fundamental events. However, let us concentrate on the technical perspective.
Namely, it can be seen that previously drawn trend lines are providing only a minor impact on Monday, as the pair is being guided by the pivot points and the 55 and 100–hour SMAs.
Meanwhile, it can be seen that the rate is about to get squeezed near the 0.7780 mark. That squeeze should result in a break out to either of the possible directions.
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