AUD/USD has been trying to break higher for an extended period but without any chance. From April until today, all rallies’ attempts have faded as shown on the daily chart.
AUD/USD: price consolidating under Moving Averages
2019-11-11 • Updated
The market has been consolidating under the Moving Averages since the last 'V-Bottom' formed. Meanwhile, there's a bearish 'Thorn', so the price is likely going to reach the nearest support at 0.6947 in the near future. The subsequent pullback from this level could be a starting point for an upward correction towards the closest resistance between the levels 0.7014 - 0.7024.
The US dollar index has all chances of reaching the 2000s high of 120.00.
The Consumer Price Index announcement by Statistics Canada is set for release in a few hours will reveal the state of inflation in the Canadian economy
After bouncing off the previous Major trendline last month, Bitcoin seems to be retesting the support area again in hopes of catching a bullish momentum.