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Australian Dollar rallied 4.5% off the January low with Aussie now eyeing a breakout of the yearly range highs. Levels that matter on the AUD/USD technical charts.
The US Dollar has been downright tame despite the global fireworks showing elsewhere. USD is coiling into compression and this can lead to a large move at some point.
The risk-associated AUD surged over the last 48 hours despite the general apprehensiveness towards other risky assets; while the ‘out of favour’ NZD also received a bid