The Australian dollar has rallied rather significantly during the trading week, as the Reserve Bank of Australia continues to look hawkish.
The Australian dollar initially tried to rally during the day on Friday but gave up gain pretty quickly just as it did on Thursday. At this point, it looks like we have a little bit of exhaustion in the picture.
The Australian dollar continues to look very strong as we have broken above the highs of the previous session during Thursday, in what seems to be a rather parabolic market.