The Aussie remains strong, while the current market situation is still uncertain. Now it is trading above the second weekly resistance and above daily fractal.
This increases the probability that the next few days the AUD/USD pair may go higher to 1.0520 (STRONG RESISTANCE) and 1.0640, the next fractal.
At the fundamental level, the Reserve Bank of Australia again increased interest rates, perhaps before the imminence of a resurgence of inflation. Now the rate of 3.25% is governing the Aussie. It has given a very strong upward trend; it is the strongest market in the short term.
It is likely that a correction of the pair to the level 61.8% of Fibonacci will lead towards 1.0380. At this level we recommend buying, with the objectives outlined on the chart.
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