The Federal Reserve may raise interest rates from their historic lows of 0.25% toward their historical average of 5%.
The RBA had an interest rate decision overnight, and the Aussie has shown little interest in trying to break out after. This could lead to even further consolidation?
The Australian dollar has rallied a bit in the early hours on Monday, and as a result, we are testing the overall ceiling in the long-term consolidation area.
The Australian dollar has rallied at the end of the week after the jobs report came out of America smaller than anticipated. That being said, it looks like resistance is still holding true, so I’m not sure what has changed.