By and large, the Aussie is showing reluctance to test the upper boundary of both the and . This situation shows that both patterns are likely to be breached during the following two sessions. The 100-hour could restrict a sudden fall. Thus, the rate could continue its period of consolidation.
Australia is set to release its Trade Balance at 0030GMT early on Friday. Sluggish data could push the rate towards the weekly PP located circa 0.7780.
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