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GBP/AUD is currently going up at the time of this post. We are now at 1.8948. We have convergence in play on the hourly compressions.
We are looking for an initial move to the ATR target at 1.9000 area, which will complete a possible rising wedge, so watch for the selloff there.
Watch the DXY for any change in direction. The ATR for the pair currently is 112 pips per day, and its 180-day average is 116 pips per day.
In the following video, OANDA Senior Market Analyst, Craig Erlam, talks about the USD/JPY, which has pulled back in recent days leading to a potentially significant breakout.
Note, I am traveling, so I am typing the report early, 5 hours before the day session opens. Today is Friday, so weekly support and resistance are important. It looks like this...
The Canadian dollar hasn’t made any spectacular daily gains since May 13th, when it shot up 1.1%. The currency has, however, made slow but steady progress against its US...
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