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AUD 1Q Forecasts: Key Market Trends to Watch for in 2021 FX Market – Long AUD/USD and AUD/JPY – DailyFX
The Australian Dollar may continue to outperform against its US counterpart as the continuation pattern gains traction ahead of 2021. The improvement in investor…
AUD 1Q Forecasts: Key Market Trends to Watch for in 2021 FX Market – Long AUD/USD and AUD/JPY
AUD/USD Weekly Chart
Chart prepared by David Song, created with TradingView
AUD/USD has staged a V-shape recovery in 2020, with the exchange rate taking out the 2019 high (0.7295) in the second half of the year. Adding weight to the drive, the exchange furthered its bullish lean with a break out from a bull-flag formation seen late in the year on a weekly timeframe.
As a result, AUD/USD trades above the…
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