As the US and China cool tensions during the trade war negotiations, that should help benefit the Australian dollar. We are seen a series a “higher lows”, and therefore it’s likely that the Australian dollar is going to try to break out above the recent high and continue going much higher. At that point, the Australian dollar will more than likely try to go towards the 100% Fibonacci retracement level which is closer to the 0.71 level. Ultimately, this is a market that I think will continue to find buyers on dips, and therefore the 50 day EMA should continue to offer a lot of support as well. Breaking clear and well ... (full story)