AUDUSD Technical Analysis – Will the recent breakout take us to the 0.6870 high? ...Middle East

Fundamental OverviewThe USD has been generally under pressure since the benign US CPI report last week as the hawkish expectations subsided and the market switched its focus from inflation back to growth. This triggered a positive risk sentiment with risk assets like stocks and bitcoin gaining ground. Such an environment is generally negative for the greenback and positive for commodity currencies like the AUD which should also be supported by the positive developments in China and the RBA likely on hold into 2025. AUDUSD Technical Analysis – Daily TimeframeOn the daily chart, we can see that AUDUSD last week finally broke above the key resistance zone around the 0.6650 level. The price pull

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